Macau GGR reaches US$922m in first 9 days of February

Analysts at JP Morgan say daily average gross gaming revenue was MOP$822m (US$102m).

Macau.- Analysts at JP Morgan have estimated that Macau’s gross gaming revenue (GGR) for the first nine days of February was MOP$7.4bn (US$922m). The estimated GGR run rate was MOP$822m (US$102m) a day.

Analysts DS Kim, Mufan Shi and Selina Li said they saw “solid tail-end demand” in the last days of the Chinese New Year holiday period, which ended on February 4. They have forecast GGR for the month in the range of MOP$18.3bn (US$2.28bn) to MOP$19.4bn (US$2.42bn), which would represent a variation of -1 to +5 per cent compared to February 2024. For full-year GGR, they expect single-digit growth of 1 to 4 per cent year-on-year.

Seaport Research Partners reported that Macau’s GGR averaged MOP780m (US$97.3m) per day over the holiday period, with an aggregate of approximately MOP6.24bn. Analyst Vitaly Umansky said the figure was down 1 per cent compared to CNY 2024 and 8 per cent compared to 2019. Estimated per-visitor GGR was US$593, up 3 per cent compared to 2024 but down 3 per cent compared to 2019.

Some 1.31 million visitors arrived in Macau during the holiday period. The average daily visitation was 163,696, down 3.5 per cent in year-on-year terms and down 4.7 per cent from pre-Covid-19 levels in 2019 (171,702).

Macau GGR unlikely to reach 2019 levels, Success Universe Group deputy chairman says

Hoffman Ma Ho Man, deputy chairman of Success Universe Group, which operates the Ponte 16 casino in Macau, said it is “unrealistic” to expect Macau’s GGR to return to 2019 levels as the city now has only 20 per cent of its GGR coming from the VIP sector.

During a lunch for the Hong Kong press, Ho Man said mass-market revenue has increased by more than 10 per cent compared to 2019 levels and that the focus should be on increasing foot traffic, particularly within the mass-market segment. Ho Man has forecast Macau’s GGR for 2025 could be up slightly in year-on-year terms.

See also: Macau GGR dips in January

Macau’s GGR for 2024 was MOP226.78bn (US$28.39bn), up 23.8 per cent year-on-year but down 22.45 per cent compared to 2019 levels (MOP292.45bn). The results surpassed the Macau government’s expectations.

Market-wide VIP baccarat revenue stood at MOP54.76bn (US$6.83bn), accounting for 24.1 per cent of aggregate GGR for the year. Such revenue was up 21.2 per cent in year-on-year terms but represented only circa 40.5 per cent of VIP revenue generated in 2019. Mass-market baccarat generated a GGR of just below MOP137.91bn, representing 60.8 per cent of total revenue in 2024.

Analysts at JP Morgan say daily average gross gaming revenue was MOP$822m (US$102m). Macau.- Analysts at JP Morgan have estimated that Macau’s gross gaming revenue (GGR) for the first nine days of…