JP Morgan Securities (Asia Pacific) expects May GGR to reach between MOP$19.5bn to MOP$20bn.
Macau.- Analysts at JP Morgan Securities (Asia Pacific) have estimated that Macau’s daily average gross gaming revenue (GGR) for the first 12 days of May was MOP716m (US$89m). Analysts DS Kim, Mufan Shi and Selina Li said GGR reached MOP8.6bn (US$1.07bn) in the May 1 to 12 period, suggesting a “post-holiday slowdown.
The current daily run rate would stand at MOP578m compared to MOP910m during the May Golden Week. This is a 6-per cent decline from April (MOP618m) but falls within the expected range given the usual slowdown that occurs after a holiday. Tehe analysts have kept their May GGR forecast at MOP19.5bn to MOP20.0bn (US$2.42bn to US$2.48bn), 75 per cent of pre-Covid-19 levels.
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.
JP Morgan Securities (Asia Pacific) expects May GGR to reach between MOP$19.5bn to MOP$20bn. Macau.- Analysts at JP Morgan Securities (Asia Pacific) have estimated that Macau’s daily average gross gaming revenue (GGR)…
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