Macau: Sept to deliver US$2,12 billion in GGR

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Friday 20 de September 2024 / 12:00

www.macaubusiness.com

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(Macau).-According to J.P. Morgan and Citi, GGR for the first 15 days of the month stood at MOP8.5 billion.

Macau: Sept to deliver US$2,12 billion in GGR

Macau casinos are poised to generate a gross gaming revenue (GGR) of at least MOP17 billion (US$2.12 billion) for September, based on a daily run-rate of around MOP566 million calculated by industry analysts.

According to J.P. Morgan and Citi, GGR for the first 15 days of the month stood at MOP8.5 billion.

Last week’s run-rate edged down to MOP535 million per day – versus MOP593 million per day a week earlier.

August pulled off a daily average of MOP637 million, making it the second-best performance since all the Covid-pandemic restrictions were dismantled in early 2023.

“[…] but for 3QTD, we estimate mass GGR is running at 105-110% of pre-COVID levels vs. VIP at low/mid-20%s,” wrote analysts DS Kim, Mufan Shi, and Selina Li.

The analysts expect the Q3 GGR to be “flattish” quarter over quarter, meaning that it would be “below historical seasonality of +2-3% q/q”.

In his note, Citi analyst George Choi pointed out that VIP volumes appeared to be down eight to ten per cent month over month while mass volumes were down ten to twelve per cent.

“Although volumes seem to be significantly weaker WoW, we suspect this reflects some players choosing to postpone their Macau trips till the Mid-autumn Festival,” he wrote.

Different from J.P. Morgan’s prediction of MOP17 billion for September, Choi believes that a range of MOP17.75 billion to MOP18.25 billion is possible.

Categoría:Casino

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País: Macao

Región: Asia