Macau’s gross gaming revenue is estimated to have reached MOP$5.2 billion (US$643 million) or MOP$650 million (US$80.4 million) per day through the first eight days of June – lower than May’s daily average of MOP$684 million (US$84.6 million) but still “very healthy for shoulder months such as June”, according to investment bank JP Morgan.
In a Monday note, JP Morgan analysts DS Kim and Selina Li said the solid start to the month was seemingly helped by a series of concerts from K-pop star G-Dragon at Galaxy Arena as well as the recent Dragon Boat festival.
This means, that, assuming gaming revenues modify for the remainder of the month to as low as MOP$600 million (US$74.2 million) per day, June should see a year-on-year rise of between 4% and 7% – driving Q2 GGR to grow 3% to 4% year-on-year and 1% to 2% quarter-on-quarter.
