Macau’s post-COVID recovery has continued into early February, analysts say, with gross gaming revenue staying strong at an estimated MOP$380 million (US$47 million) per day from 1 to 5 February, according to investment bank JP Morgan.

In a Monday note, JP Morgan analyst DS Kim said channel checks showed GGR for the period at MOP$1.9 billion (US$234 million) – broadly in line with January’s print of MOP$374 million (US$46 million) per day and a surprisingly positive result given January was boosted by the Chinese New Year holiday.

“While the [February] period did include a bit of boost from tail-end demands post CNY (which helps high-end/VIP demand more so than mass, by the way), we believe most of the market participants, including on the buy-side, were looking for sequential pull-back on GGR,” Kim said.