Macau’s gross gaming revenue surged to MOP10.32 billion in February as the sector is benefits from the city’s easing of restrictions since early January.
The figure is up 33.1% year-on-year, according to data released today (Wednesday) by the Gaming Inspection and Coordination Bureau.
Although the February figure is still down 59% when compared to pre-pandemic levels, analysts surveyed by Bloomberg predict that annual gambling revenue could jump almost four-fold to MOP158 billion.
Alidad Tash, managing director of consulting firm 2NT8, told Bloomberg that the city’s gaming sector is “recovering far faster than anybody could have projected in November.”
“We’re definitely looking at a much healthier casino revenue picture,” he said.
In early February, the city’s GGR was recording a rebound, with an estimated MOP1.9 billion in the first five days of February, as the city has been swarmed by visitors amid the significant easing of restrictions.
Brokerage firm J.P. Morgan remarked that such a figure represents a recovery of 45% of 2019 figures.
In a note today, analysts from the brokerage have considered the figure a “robust recovery,” as there was an increase in revenue even without any holidays.
(Developing story)
