The gross gaming revenue (GGR) of Macau’s casinos increased by 79.1% year-on-year in February, reaching MOP18.49 billion. This figure fell slightly short of the projections made by JP Morgan Securities and Citigroup, which predicted earnings of around MOP19 billion and MOP19.5 billion, respectively.
However, February’s GGR represented a 4.4 percent decrease from January’s figure of MOP19.34 billion, primarily due to a surge in the mass-market segment.
Despite the monthly decline, analysts regarded the performance during the Chinese New Year holiday period, which occurred from February 10 to 17, as robust. JP Morgan Securities reported that the daily GGR during this period likely exceeded MOP1 billion, surpassing the MOP900 million run-rates observed during the previous Golden Week in October.
The company also anticipated that Macau would likely surpass the MOP1 billion mark during the festive period in February, marking the first time in over four years, and exceeding the MOP900-million-plus run-rates seen during the previous Golden Week.
In total, Macau’s GGR for the first two months of 2024 amounted to nearly MOP37.82 billion, a significant 72.7% increase compared to the same period in the previous year.
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