Macau’s gross gaming revenue reached an estimated MOP$3.2 billion (US$400 million) for the first six days of August, leaving it just about flat with the July average according to investment bank JP Morgan’s weekly channel checks.
In a Monday note, analysts DS Kim and Mufan Shi put the daily average from 1 to 6 August at MOP$533 million (US$66.7 million) per day – very slightly down on the MOP$537 million (US$67.2 million) per day recorded throughout the previous month.
While such numbers make it tough to draw any meaningful trends, the analysts said they imply that mass GGR is still comfortably tracking at 90%+ of pre-COVID levels with better days ahead.
“We continue to expect it to ramp up to 100%+ recovery by October,” Kim and Shi wrote.
They also outlined their expectations that the three Macau concessionaires due to report their 2Q23 financial results in the coming weeks – Wynn Macau (this week), Galaxy Entertainment Group and SJM – would provide “broadly upbeat commentary” during their respective earnings calls.
As reported by Inside Asian Gaming, Macau’s gaming industry set a new post-pandemic high in July, with gross gaming revenues reaching MOP$16.66 billion (US$2.06 billion) – up more than 4,000% year-on-year and 9.6% higher than June, according to the Gaming Inspection and Coordination Bureau (DICJ).
