Daily GGR MOP6.1b for first 10 days of March

Macau’s gross gaming revenue (GGR) for the first 10 days of March was approximately MOP6.1 billion, with an average daily GGR of around MOP610 million.

Citi Research reported that, despite a slight decrease in gambling activities during the National People’s Congress week, the impact on Macau’s GGRs seemed limited, with VIP room volumes down about 5% and mass market volumes dropping between 3% and 5% compared to the previous month.

JP Morgan’s analysts suggested the lower February GGR could be attributed to luck and high market expectations, rather than a significant demand slowdown after the holiday.

They estimated Macau’s mass GGR, including revenue from slot play, is about 110% of the pre-Covid-19 level. This indicates a potential 3-4% quarter-on-quarter growth in the first quarter of this year, surpassing the historical seasonality of +2% quarter-on-quarter.

Considering these factors, both firms are maintaining a conservative forecast of MOP19.5 billion for March, equivalent to 75% of the GGR level in March 2019. This implies an average daily run-rate of around MOP638 million for the rest of March. Staff Reporter