Macau’s gross gaming revenue is estimated to have reached a combined MOP$1.8 billion (US$221.5 million), or MOP$450 million (US$55.4 million) per day, for the first four days of June, around 10% lower than the May run-rate according to JP Morgan’s weekly channel checks.
The slowdown is not unexpected, however, with JP Morgan’s DS Kim and Mufan Shi stating that the “absolute level of GGR will soften in June given seasonality” and noting that June is typically the weakest month of the year for Macau.
Despite this, the analysts remain confident that Q2 results will remain strong enough to beat consensus, with mass GGR tipped to reach 80% of pre-COVID levels and industry EBITDA to return to 65% – up from 65% and 45% respectively in Q1.
