Macau mass GGR recovers to 94 pct of 2019 levels – J.P. Morgan
Monday 02 de October 2023 / 12:00
⏱ 1 min read
(Macau).- Macau’s mass gross gaming revenue (GGR) has been a primary earnings driver in the third quarter of 2023, experiencing a 9 per cent quarter-on-quarter growth and reaching a range of 93 to 94 per cent of pre-Covid levels, according to brokerage firm J.P. Morgan.
Meanwhile, the VIP segment’s GGR saw a slight decline of 3 per cent quarter-on-quarter, amounting to 25 to 26 per cent of pre-Covid levels, primarily attributed to VIP luck normalisation.
In a Monday note, J.P. Morgan said that it expected this trend to result in a more than 10 percent quarter-on-quarter increase in industry EBITDA, reaching approximately 80 per cent of 2019 levels.
Analysts DS Kim, Mufan Shi, and Selina Li noted that the performances in the third quarter “fell slightly short” of initial Wall Street estimates, partly due to adverse weather conditions in September.
According to figures released by the Gaming Inspection and Coordination Bureau (DICJ) on Sunday, the casino industry recorded gross gaming revenue of MOP14.9 billion (US$1.86 billion) for September, marking a 13 percent decrease from the previous month.
The September GGR figure was affected by Typhoon Saola, which swept through the city and resulted in the closure of casinos for at least nine hours on 1 and 2 September.
J.P. Morgan analysts said that the reported figure aligned with the latest sell-side consensus of MOP14.8 billion, and they considered September to be “one of the least important months due to soft seasonality”.
Regarding the National Day Golden Week, analysts observed that visitation from mainland China to gaming floors exhibited weaker-than-expected performance during the first two days, while there was an “extremely strong” recovery in non-mainland visitation.
By Therese Tu
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
Event
AffPapa Conference Madrid 2026
18 de May 2026
BeSoccer explains its participation in AffPapa Conference Madrid 2026
(Madrid, SoloAzar Exclusive).- In an interview with Cristina Cano Meneses, AdOps and Link Building Manager, and Lamin Sane García, Account Manager of BeSoccer, the company's representatives reviewed their participation in AffPapa Conference Madrid 2026, where the firm presented its advertising solutions and strengthened ties with operators, affiliates and strategic partners in the global iGaming and sports betting industry.
Monday 01 Jun 2026 / 12:00
StatsDrone Revolutionizes Data Analytics in iGaming at AffPapa Madrid 2026
(Madrid, SoloAzar Exclusive).- John Wright, CEO and co-founder of StatsDrone, shared with SoloAzar his insights after participating in the AffPapa Conference Madrid 2026. He discussed how the company presented its new analytics platform NousViz, the feedback received from attendees, and the strategic goals driving StatsDrone’s expansion in the iGaming and affiliate marketing industries.
Friday 29 May 2026 / 12:00
The Future of Operator-Affiliate Partnerships at AffPapa Madrid 2026
(Madrid, SoloAzar Exclusive).- At AffPapa Conference Madrid 2026, industry leaders gathered to discuss the evolving relationship between operators and affiliates during the panel “The Future of Operator-Affiliate Partnerships.” Moderated by Nugzar Ramishvili, the discussion featured Nikoleta Hristova, Havard Lehn, Nemanja Lazarevic, Gjorgje Ristikj and Armin Aganovic. The session explored key industry challenges including transparency, listing fees, AI adoption, streamer marketing, and the future sustainability of affiliate partnerships.
Friday 29 May 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
