Casino revenues for first 8 days of October at MOP6.65 billion

The Golden Week has seen an estimated casino floor revenue of MOP6.65 billion, according to JP Morgan Securities (Asia Pacific) Ltd.

In a memo, the brokerage estimated that the MOP830 million daily average for the first eight days of October is nearly 29% above the average daily income of this year’s May Golden Week, which stood at around MOP645 million.

Revenues from Oct. 1 to Oct. 6 show “80% recovery” when compared to the Golden Week in 2019 when casinos recorded revenues of around MOP1.16 billion.

“Mass GGR has likely recovered to [circa] 110% to 120% of 2019 Golden Weeks, comfortably exceeding a 100% bar that we think many buy-side [investors] had. In short, Macau’s [autumn] Golden Week turned out to be pretty golden – much better than we and the market had feared,” analysts said, as cited in a report issued by GGRAsia.

Macau’s casino gaming revenue growth slowed in September, falling to a five-month low as revenues fell slightly to MOP14.9 billion.

Data from the Gaming Inspection, and Coordination Bureau shows gross gaming revenue soared 404.2% year-on-year, albeit from a low base. The numbers fell 13% from the previous month.

During the eight-day holiday, Macau recorded over 932,000 visitor arrivals, surpassing government expectations.

When compared with 2019 pre-pandemic figures, the total figures of this year’s Golden Week still fall short of the 974,337 visitor arrivals in the first seven days. When comparing this year’s results (for the first seven days) with those from 2019, the number of entries this year was still 11.8% lower. Staff Reporter