Macau’s recovery from the COVID-19 pandemic continues to gain momentum, with gross gaming revenues for the first 19 days of March estimated at MOP$6.8 billion (US$842 million), according to channel checks by JP Morgan.

In a Monday note, the investment bank said daily run-rate for the month was currently sitting at MOP$357 million (US$44 million), but that the monthly total implies an increase from MOP$350 million (US$43 million) for the first 12 days of March to MOP$370 million (US$46 million) over the past week.

“This is all within expectations, but still quite encouraging against what’s implied by the recent pull-back in shares,” wrote JP Morgan’s DS Kim and Mufan Shi.