Macau’s mass gaming revenues are now running comfortably at 100% of pre-COVID levels, with the first five days of November exceeding market expectations according to a weekly check by investment bank JP Morgan.
GGR for from 1 to 5 November is estimated to have come in at MOP$2.8 billion (US$347 million) or MOP$560 million (US$69.5 million) per day, in-line with the recent summer holidays and higher than the expectation of MOP$530 million to MOP$540 million per day (US$65.8 million to US$67.0 million)
This after October GGR came in at a post-COVID high of MOP$19.5 billion (US$2.42 billion), aided by the National Day holiday.
According to JP Morgan analysts DS Kim, Mufan Shi and Selina Li, the early November print “indicates mass GGR is running comfortably at 100%+ of pre-COVID levels while VIP demand remains at around 23% to 25% levels.”
The analysts had previously revealed that mass gaming GGR in October exceeded pre-COVID levels for the first time since COVID, with premium mass revenues hitting 120% of pre-COVID.
The Macau government has since predicted that gaming revenues in 2024 will climb to MOP$216 billion (US$26.8 billion).
