December casino revenue to hit USD 650 M – JP Morgan
Monday 11 de December 2023 / 12:00
⏱ 1 min read
(Macau).- Gross gaming revenue for the first 10 days of December is estimated at MOP5.2 billion (US$650 million), according to J.P. Morgan Securities (Asia Pacific).
The recent analysis by analysts Mufan Shi, Selina Li, and DS Kim suggests a daily run-rate of MOP520 million per day – weaker than the daily average of MOP535 million in November – partly due to a “poor VIP luck factor”.
Their analysis also suggests a recovery of mass-market casino revenue to a range of 95 per cent to 100 per cent of the pre-Covid level, versus a full recovery observed in the previous months.
“We do expect, however, demand to ramp up in the coming weeks into Christmas and year-end holidays,” said the three analysts.
JP Morgan expects December to generate about MOP17 billion eventually, or a run-rate of at least MOP550 million per day.
If proved to be accurate, the projection implied a quarter-on-quarter increase of 8 per cent in gross gaming revenue this quarter, with a 9 per cent hike in the mass market segment.
A strong mass performance could drive industry EBITDA up by 8 to 10 per cent compared to a quarter earlier.
By Aries Un
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
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