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Macau casino GGR for first days of February at $310.3 million

February 6, 2024 Macau Casino & HotelIndustry Updates

According to a memo provided on Monday by JP Morgan Securities (Asia Pacific) Ltd., Macau’s casino gross gaming revenue (GGR) for the first few days of February is anticipated to be MOP2.5 billion (US$310.3 million), or MOP625 million per day.

This sum, even with the pre-holiday seasonality before the Lunar New Year, which comes between February 10 and February 17, is comparable to the strong MOP624 million daily beat in January.

Macau’s casino gross gaming revenue (GGR) increased by 67.0 percent year over year in January to MOP19.34 billion, according to government figures. Analysts at JP Morgan said that the casino’s gross gaming revenue (GGR) for the first four days of February indicates that mass-market GGR has rebounded to over 110% of pre-COVID levels, but VIP GGR is likely to remain in the mid-20% recovery area.

Analysts forecast a sizable number of gaming guests throughout the Chinese New Year vacation, with pre-booked comped rooms hitting record-high quality. They predict that GGR will exceed MOP650 million every day over the eight-day vacation, signifying a 120 percent rise in mass GGR over the 2019 Chinese New Year.

According to GGRAsia, every VIP room in Macau’s casino resort has been secured for the next Chinese New Year vacation season.

JP Morgan forecasts that margins will remain essentially unchanged after the fourth quarter of 2023 and that the mass GGR for the fiscal year 2024 will remain at current levels (112% of pre-COVID levels).

Citigroup raised its February GGR prediction for Macau to MOP19.5 billion from MOP18.5 billion last week, with the assumption that the run-rate would pick up pace to around MOP900 million per day between February 12 and February 17, the last six days of the Chinese New Year vacation season.

Original story by: GGRAsia

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