Macau Gaming Revenue Soars, Eyes Record in May

Due to a strong gain over the past week, Citigroup analysts have upgraded their May gross gaming revenue (GGR) projection, reflecting the significant upturn that the Macau gaming industry is currently experiencing.

The daily run rate increased by 19% over the previous week, from MOP$579 million to MOP$686 million (US$72.0 million to US$85.4 million), according to analysts George Choi and Ryan Cheung.

There are several reasons for this rise in revenue. May 15th was the national holiday, which attracted a lot of tourists.

From May 16–19, Cantopop group Mirror performed at Galaxy Arena, which promoted travel and spending.

Additionally, it appears that players are being drawn in by Sands and Galaxy casinos’ recent introduction of the “Small 6/Big 6” side bet, with mass and VIP volumes jumping by 13% and 15%, respectively, month over month.

As a result, Citigroup increased its forecast for May GGR from MOP$20 billion (US$2.49 billion) to MOP$20.5 billion (US$2.55).

This most recent estimate surpasses the previous post-pandemic record of MOP$19.5 billion (US$2.43 billion) reached in March, perhaps signifying a significant turning point in Macau’s economic recovery.

With the revised projection, May 2024 income levels will be 79% of pre-pandemic May 2019 levels, with a daily run-rate of MOP$592 million (US$73.7 million) for the remaining days of the month. This positive development is good for Macau’s gaming sector as it continues to grow.

Original Story by: Inside Asian Gaming