The city’s gross gaming revenue (GGR) is estimated to have reached MOP6.8 billion by Mar. 19 as economic revival continues, following the consistent recovery in tourist arrival numbers.
Data from investment bank J.P. Morgan suggested that casinos recorded a daily run-rate of MOP357 million a day on average.
“This is all within expectations, but still quite encouraging against what is implied by the recent pull-back in shares,” said analysts DS Kim and Mufan Shi.
Meanwhile, the analysts said that the figures represent a 45% recovery in GGR, and a recovery of 60% to 70% in the mass market, compared with pre-pandemic levels.
If these trends continue, the city will record MOP11 billion in GGR for March, similar to February’s figure of MOP10.3 billion as the sector benefitted from the city’s easing of restrictions since early January. The figure was up 33.1% year-on-year.
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.
The government has estimated that the city’s GGR this year would amount to MOP130 billion. LV
