Macau’s gross gaming revenue is estimated to have reached MOP$5.75 billion (US$718 million) or MOP$638 million (US$79.7 million) per day through the first nine days of March, largely in line with estimates according to JP Morgan analysts.
In a Monday note, the investment bank described the month-to-date performance as “encouraging for a shoulder month like March”, implying mass GGR is running at 110%+ of pre-COVID levels and VIP at low-20%.
JP Morgan analysts DS Kim, Selina Li and Mufan Shi continue to expect March GGR will stay flattish year-on-year at around MOP$19 billion, keeping 1Q24 GGR also flat albeit against relatively tough comps.
