Gross gaming revenue (GGR) for the first six days of August stood at MOP3.2 billion, a figure slightly lower than the previous month, investment bank JP Morgan has suggested.
According to the brokerage, revenues are at MOP533 million, slightly lower than July’s MOP537 million.
“While it’s tough to draw any meaningful trends from six-day data, this implies mass GGR is comfortably tracking at 90-percent-plus of the pre-Covid level; we continue to expect it to ramp up to 100-percent-plus recovery by October,” wrote JP Morgan’s analysts DS Kim and Mufan Shi, as cited in a report issued by GGR Asia.
Casino revenues in July hit a post-pandemic high last month as summer continued to fuel a holiday bloom.
Data from the Gaming Inspection and Coordination Bureau showed revenues last month increased to MOP16.7 billion, a surge of over 4,000%, albeit from a low base as casinos shut for almost two weeks in July last year.
Despite setting a post-pandemic record, July’s revenue total fell well short of the MOP24.45 billion reported in July of 2019.
A Bloomberg survey of estimates from six brokerages shows that gaming revenue for the full year is likely to return to 62% of the pre-Covid level. LV
