With April GGR coming in slightly above consensus, the strength of Macau’s gaming revenue growth for the month of May will come down to the current Golden Week holiday period with analysts remaining conservative in their early forecasts.
In a Thursday note following publication by Macau’s DICJ of the April results – which saw GGR grow by 1.7% year-on-year to MOP$18.9 billion (US$2.36 billion) – Seaport Research Partners said they forecast May revenues to grow by 5.2% month-on-month, lower than the historical May average 8.9% growth. This would represent a 1.7% decline compared with May 2024.
However, Seaport’s Vitaly Umansky acknowledged that this was a conservative estimate with upside potential depending on the performance of Golden Week.
