Macau’s daily GGR back to normal after post-holiday slump

A research by JP Morgan Securities (Asia Pacific) Ltd. claims that after a post-holiday drop, Macau’s daily gross gaming revenue (GGR) has “normalized.”

October’s GGR is expected to be at least MOP18.5 billion (US$2.30 billion), the highest monthly performance since January 2020, when GGR was MOP22.13 billion during the early stages of the COVID-19 pandemic, according to the report.

Based on their findings, JP Morgan’s estimates indicate that GGR was MOP14.6 billion in the first 23 days of October, or around MOP635 million per day. They note that during the autumn Golden Week holiday, the run rate increased by 20% to MOP575 million per day last week. This eight-day event, which concluded on October 6, included the Mid-Autumn Festival.

Typhoon Koinu’s disruption of transit led to a sharp decline in Macau’s gross general return (GGR) in the second week of October, according to Citigroup Inc. The GGR recovery in the third week of October is encouraging, and the month is expected to set another post-pandemic record, according to JP Morgan’s study.

JP Morgan is sticking with its market-wide estimate of MOP18.5 billion to MOP19 billion for Macau’s GGR in October, which would indicate a 72% recovery from October 2019 levels. A significant comeback in mass-market play (100 percent or more) and a somewhat smaller recovery in VIP gaming (about 25%) are the main drivers of this turnaround.

Original story by: GGRAsia