Golden Week generates ‘highest run-rate in five years’: JP Morgan

Gaming

Golden Week generates ‘highest run-rate in five years’: JP Morgan

Monday 07 de October 2024 / 12:00

⏱ 1 min read

(Macau).- Macau’s recent Golden Week has delivered a fruitful outcome, with the gross gaming revenue early this month hitting a daily rate of over MOP1.08 billion (US$130 million).

Golden Week generates ‘highest run-rate in five years’: JP Morgan

The information comes from brokerage JP Morgan, which previously expected the figure to range between MOP850 million and MOP900 million per day for the first six days.

It was also the “highest run-rate in five years” since the 2019 October Golden Week, which logged MOP1.16 billion per day, wrote analysts DS Kim, Mufan Shi, and Selina Li on Monday.

The figure is also almost 20 per cent above the May Day figure of MOP910 million per day earlier this year.

The latest print from the National Day holiday, which welcomed over 915,696 arrivals, means that mass revenue has recovered to 130 to 140 per cent of pre-Covid levels, while revenue from the VIP market slips into a range of 30 to 35 per cent, the analysts pointed out.

Both segments significantly exceeded the Q3 recovery rates of at least 110 per cent and 25 per cent, respectively.

“The significant acceleration in mass GGR is particularly encouraging, as it indicates that spending per capita has also improved sharply, by around +25% vs pre-Covid levels,” they added.

Categoría:Gaming

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País: Macao

Región: Asia