Gaming

Macau GGR reaches 40 pct of 2022 Q4 level in 15 days

Wednesday 18 de January 2023 / 12:00

⏱ 1 min read

(Macau).- Macau has already raked in over 40 per cent of last quarter’s gross gaming revenue in the first half of January, according to figures from the city’s gaming watchdog and JP Morgan Securities (Asia Pacific).

Macau GGR reaches 40 pct of 2022 Q4 level in 15 days

An update provided by the Gaming Inspection and Coordination Bureau today shows that local casinos generated as much as MOP10.3 billion (US$1.28 billion) in the last quarter of 2022, down 45.6 per cent compared to the same period a year earlier, about MOP19 billion in total.

The steep fall in casino revenue took place against a backdrop of citywide Covid infections. However, as pandemic-related curbs relaxed further earlier this year, the city could have conjured up some MOP4.3 billion in gaming revenue in the first 15 days of the month, as JP Morgan analyst DS Kim suggested in a recent note.

The figure stands at about 41.8 per cent of the level for the fourth quarter of last year.

Taking into account the 15-day number, the investment bank predicted that between MOP285 million and MOP290 million in gaming revenue had been made per day. It added that the casino revenue could have even risen to a daily average of MOP310 million in the past seven days as visitor arrivals in Macau continued to climb.

“The current trend is already (well) above our modelled 35 to 40 per cent mass recovery for LNY,” said Kim, referring to the weeklong festive holiday that begins in four days.

Overall gaming revenue reached MOP42.2 billion last year, with only 24 per cent of it from VIP punters, government data shows.

Categoría:Gaming

Tags: Sin tags

País: Macao

Región: Asia

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