Macau casino GGR for first 17 days of December estimated at $1.12 billion

According to JP Morgan Securities (Asia Pacific) Ltd., Macau’s casino gross gaming revenue (GGR) for the first 17 days of December is expected to be MOP9 billion (US$1.12 billion), or about MOP529 million per day on average. The expected daily gross revenue (GRD) for the casino last week was MOP542 million, up from MOP520 million the week before.

The city’s mass GGR is functioning at almost 100% of pre-Covid-19 levels, according to the most current data. However, due to “poor luck” for the operators, VIP GGR is only operating at “mid- or high-teens” pre-COVID levels.

According to JP Morgan analysts, December’s total gross domestic product (GGR) is expected to be MOP17 billion, with an average daily run rate of around MOP550 million. They anticipate that as the year-end holidays draw near, gaming revenue will increase even more in the remaining days of the month.

The analysts concluded that this would imply a 9% quarter-over-quarter increase in mass and an 8% quarter-over-quarter expansion in GGR for the fourth quarter. The industry’s EBITDA (earnings before interest, taxes, depreciation, and amortization) is expected to rise by 8% to 10% quarter over quarter as a result of this development, as opposed to the average seasonality of 5% growth previous to COVID-19.

Macau’s gross domestic product (GGR) increased by 7.3 percent to MOP48.81 billion in the third quarter. In the third quarter, mass-market baccarat play generated MOP29.77 billion, or around 61 percent of the city’s gross gaming revenue.

Original story by: GGRAsia