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Macau’s daily GGR for first 10 days of March reaches $75.7 million

March 12, 2024 Macau Casino & HotelIndustry Updates

As per industry sources, Macau’s gross gaming revenue (GGR) for the first ten days of March was MOP610 million (US$75.7 million), in line with “normal seasonality,” according to JP Morgan Securities (Asia Pacific) Ltd.

From March 1 to March 10, the total gross gaming revenue (GGR) at the casino was MOP6.1 billion. This translated into a daily run-rate of MOP610 million, which was 3% less than the MOP630 million daily run-rate seen in the first two months of 2024.

This little decrease is in accordance with the historical pattern of a 4-percent month-over-month drop in run rate seen in March as compared to January or February during the Chinese New Year season.

The casino gross generated by Macau in February was MOP18.49 billion, a 4.4% decrease from January. The February GGR was below forecasts even though the mainland’s Chinese Lunar New Year holiday, which ran from February 10 to 17, was seen as a strong performance.

The GGR run rate for the first ten days of March, according to JP Morgan analysts, showed consistent seasonality and continued demand after the Lunar New Year. They suggested that rather than a significant decline in demand after the break, the February GGR deficit would have been caused by random factors like luck and unrealistically high market expectations.

The experts claim that Macau’s mass GGR, which includes slot machine revenue, is at “110 percent” of levels seen before to the Covid-19 outbreak month to month. In comparison, there was a 104% recovery in the fourth quarter of 2023, suggesting that the first three months of this year might see growth of 3 to 4 percent on a quarterly basis.

This trend is expected to surpass the usual seasonality of “+2 percent quarter-on-quarter.”

Original story by: GGRAsia

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