Macau casino GGR forecasted to reach $2.3 billion in April

Macau’s casino gross gaming revenue (GGR) is predicted to surpass MOP18.5 billion (US$2.3 billion) in April, or an average of over MOP617 million per day, according to a Citigroup memo released on Monday.

About 78% of the quantity recorded in April 2019, the year before the COVID-19 pandemic, is represented by this projection.

The release of Macau’s March GGR numbers, which came to a little over MOP19.50 billion, or about US$2.4 billion, before the release of Citigroup’s analysis.

The March numbers indicated a daily run rate of around MOP658 million for the last seven days of the month, up from approximately MOP629 million the previous week, according to Citigroup analysts George Choi and Ryan Cheung.

The experts explained the greater daily run rate by the fact that more people visited Macau over the Easter holidays, which fell between March 29 and April 1 in Hong Kong.

The Public Security Police said that over the four days of the Easter weekend, Macau received just over 100,000 tourist arrivals on average each day, with 122,235 tourists on March 30.

Although Easter is not a public holiday in China, the country will have a public holiday in observance of the Ching Ming festival from Thursday, April 4, to Saturday, April 6.

The next significant holiday on the mainland is Labor Day, which begins on Wednesday, May 1, and ends on Sunday, May 5.

Original story by: GGRAsia