Encouraging start for Macau’s Q2 gaming revenue – JP Morgan
Wednesday 12 de April 2023 / 12:00
2 minutos de lectura
(Macau).- Investment bank JP Morgan has said that Macau got off to a decent start in the second quarter of 2023, citing casino gaming revenue for the first 10 days of April.
Analysts DS Kim and Mufan Shi said in a recent note that the city’s gross gaming revenue reached some MOP 4 billion (US$ 495 million) in the first 10 days of the month, which suggested a daily run-rate of MOP 400 million.
Although the figure is for now lower than the March run-rate of MOP 411 million per day, Kim described it as “encouraging” as it suggests that mass-market gaming revenue is running at a rate of about 70 per cent of the pre-Covid level.
“We feel the actual GGR could be a tad stronger than MOP400m/day,” said the two analysts. “We’d say around 5-10% deviation is possible for any given week.”
More than 481,000 visitors made their way into Macau over the recent six-day holiday that combined the Ching Ming Festival and Easter.
The figure was even higher than the total of inbound visitors logged over the seven-day Lunar New Year period earlier this year when some 451,000 made their way in.
In order to woo more foreign visitors, the Macau Government Tourism Office extended a three-month free return ticket campaign for Hong Kong arrivals until the end of June.
By Aries Un
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
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