Seasonal slowdown in Macau: June GGR likely to hit MOP 13.3B
Wednesday 26 de June 2024 / 12:00
⏱ 1 min read
(Macau).- A seasonal slowdown has emerged in the gaming sector as gross gaming revenue for the first 23 days of June is expected to be about MOP13.3 billion (US$1.66 billion).
According to J.P. Morgan analysts DS Kim, Mufan Shi, and Selina Li, this figure translates to a run rate of MOP578 million per day, dragged down by last week’s daily run rate, which edged down further to MOP514 million per day, compared to MOP533 million the week before.
It is said to be the lowest level in at least six months due to several factors such as a post-holiday slowdown, the ongoing UEFA European Football Championship, and the seasonal trend.
The analysts has also mentioned in their note a poor VIP win rate, about 2.6 to 2.8 percent compared to at least 3 percent typically.
“By segment for month-to-date, we estimate mass GGR is at 105%+ of the pre-COVID level, while VIP is around the low-20s% – both in line with 4Q’s run rate but weaker than April/May GGR beats,” the analysts wrote.
Regarding the second quarter-to-date data, it indicates that casino revenue is expected to fall slightly by around two to three percent from the previous quarter. This decline is primarily driven by a 2 percent decline in the mass segment and a 5 percent drop in the VIP segment.
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
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