The Gaming Inspection and Coordination Bureau reports that the gross gaming revenue (GGR) from casinos in Macau fell by 13.2 percent in September compared to August, totalling MOP14.94 billion ($1.85 billion). Despite the drop, GGR for September 2023 increased by 404.2% when compared to the same month in 2022, when travel restrictions due to Covid were still in place.
After a sluggish start in August owing to harsh weather, including Typhoon Saola, JP Morgan Securities (Asia Pacific) Ltd found that Macau’s casino GGR improved during September. For almost nine hours, the storm halted transportation and caused casinos to close their doors.
Macau’s GGR for the first nine months of 2023 was over MOP128.95 billion, up a whopping 305.3% from the same period in 2022.
Macau’s success during the October Golden Week period, which typically sees a jump in demand for casinos and tourist amenities, is the current focus of market observers. October Golden Week, which spans the dates of the Mid-Autumn Festival and the Chinese National Day, was officially declared by the State Council of China on September 29.
October might see the largest monthly GGR since Macau’s post-Covid reopening, with estimates ranging as high as MOP19.0 billion over Golden Week, according to analysts at Citigroup. From October 1st through the 6th, they expect daily GGR averaging about MOP765 million, tapering down to an average of MOP575 million for the remainder of the month.
Original story by: GGRAsia
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