Gaming

Global Gaming Revenue in Macau for the first 20 days of october was US$1.8 B

Monday 21 de October 2024 / 12:00

⏱ 1 min read

(Macau).- Macau’s gross gaming revenue could have reached MOP14.6 billion (US$1.8 billion) in the first 20 days of October, or a daily average of MOP730 million, in an expected slowdown after the recent Golden Week, JP Morgan analysts have written.

Global Gaming Revenue in Macau for the first 20 days of october was US$1.8 B

In a note out on Monday, DS Kim, Mufan Shi, and Selina Li said that the run-rate slowed to MOP514 million per day from about MOP846 million per day logged in the first two weeks of the month.

“MTD demand suggests October GGR is likely to reach ~MOP21B (or >MOP670m/day), a tad better than the MOP20B+ that we and the market had expected several weeks ago; this suggests downside risk to consensus is limited at least for 4Q24E,” the analysts wrote.

The latest figure, as the three wrote, suggests a mass-market recovery of 110 to 115 per cent, versus a VIP recovery of 25 per cent.

These figures are tracking ahead of the third quarter’s recovery rates of 105 per cent to 110 per cent and a range of 23 per cent to 25 per cent, respectively. “[…] it is encouraging to see that the recovery rate is rebounding so far after two quarters of sequential pull-back,” they added.

October in 2019 saw MOP26.44 billion in gross gaming revnue, while that figure dropped to MOP19.5 billion that month last year.

Categoría:Gaming

Tags: Sin tags

País: Macao

Región: Asia

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