Macau casino revenue will remain well below pre-pandemic levels, according to analysts.
Macau.- Deutsche Bank Securities has estimated that Macau’s gross gaming revenue (GGR) for March will amount to US$2.42bn, a 5.7 per cent increase from the previous month’s tally. Analyst Carlo Santarelli noted a slight decline in daily revenue compared to February but less than the average sequential per day decrease observed historically between March and February.
The forecast for March represents a drop of 25.2 per cent compared to the same month in 2019, before the Covid-19 pandemic. However, Santarelli predicts that the first quarter of 2024 will see a year-on-year increase of 65 per cent to approximately US$7.15bn. This would reflect a 5.6 per cent increase from the previous quarter but remains 25 per cent lower than the first quarter of 2019.
Cumulatively, Macau’s GGR for the first two months of 2024 was MOP37.82bn, up 72.7 per cent from the prior-year period.
See also: Macau GDP up 80.5% in 2023
Macau casino revenue will remain well below pre-pandemic levels, according to analysts. Macau.- Deutsche Bank Securities has estimated that Macau’s gross gaming revenue (GGR) for March will amount to US$2.42bn, a 5.7…
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