Macau’s gaming operators generated gross gaming revenue of an estimated MOP$7.1 billion (US$884 million) over the first 11 days of August, suggesting the daily run-rate over the past week improved to MOP$657 million (US$81.8 million).
This was higher than the MOP$645 million (US$80.3 million) to start the month and considerably improved from the MOP$590 million (US$73.5 million) daily run-rate in June and MOP$600 million (US$74.7 million) in July, according to a Monday note from JP Morgan.
Mass GGR is estimated to be sitting at 110% of pre-COVID levels while VIP remains subdued in the low-to-mid 20% range.
“We keep our forecasts unchanged for August GGR, to be around MOP$19 billion to MOP$19.5 billion, which could turn out to be a tad conservative if the current weekly run-rates sustain towards the month-end,” said analysts DS Kim, Mufan Shi and Selina Li.
