UBS Group AG said gross gaming revenue has reached its highest since the pandemic for a non-holiday period.
Macau.- Investment bank UBS Group AG has indicated that Macau’s gross gaming revenue (GGR) averaged MOP686m (US$85.4m) per day over the past week, up from MOP579m per day in the previous period. The uptick was attributed to demand for premium services driven by events and customers who had deferred trips during the May Day holiday to avoid congestion.
UBS Group AG estimates that the GGR run-rate has reached 86 per cent of the 2019 level, with mass gaming revenue reaching around 120-125 per cent. Month-to-date GGR is approximately MOP705m per day, a 14 per cent increase compared to last month, surpasssing typical May seasonality, which usually sees a 3 per cent increase from April.
Analysts forecast continued positive momentum with a busy event schedule in June and recent expansions in travel policies supporting growth.
In April, GGR was down 4.9 per cent month-on-month at MOP18.5bn (US$2.29bn). The figure was up 26 per cent when compared to April 2023 but down 21.4 per cent from the MOP23.6bn (US$2.91bn) reported in April 2019.
UBS Group AG said gross gaming revenue has reached its highest since the pandemic for a non-holiday period. Macau.- Investment bank UBS Group AG has indicated that Macau’s gross gaming revenue (GGR) averaged…
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