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Macau’s GGR forecast for Golden Week around MOP6.65 billion

October 10, 2023 Macau Casino & HotelIndustry Updates

According on industry inspections, JP Morgan Securities (Asia Pacific) Ltd. predicts that Macau’s casino gross gaming revenue (GGR) for the first eight days of October would be roughly MOP6.65 billion (US$824.5 million). This projection equates to around MOP830,000,000 per day, which is more than 29% more than the average daily GGR of MOP645,000,000 during this year’s May Golden Week surrounding Labour Day.

This year, the mainland Chinese government designated September 29 to October 6 as the eight-day Autumn “Golden Week.” At this time, both the Mid-Autumn Festival and China’s National Day were commemorated.

GGR slowed on the last two days of the vacation, with daily Macau casino GGR estimated to be above MOP930 million from October 1 to 6, and MOP500 million on October 7 and 8.

The daily GGR run-rate from October 1 to 6 revealed a “80 percent recovery” in headline GGR compared to the same Golden Week holiday in 2019, when aggregate GGR was MOP1.16 billion. This was a “significant acceleration” from Macau’s GGR recovery, which was about 70% in the third quarter of 2023.

The researchers also indicated that mass GGR has most likely climbed to “110 percent to 120 percent of 2019 Golden Weeks,” which is more than previously estimated. Overall, Macau’s autumn Golden Week performed better than predicted.

During the October Golden Week, about 76.1 percent of the 932,365 visitors that came in Macau between September 29 and October 6 were from the Chinese mainland.

Original story by: GGRAsia

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