Macau’s gross gaming revenue is estimated to have averaged MOP$593 million (US$73.6 million) per day for the seven days from 12 to 18 May, representing a 3% increase over the prior week period.
According to a Monday note from Citigroup, the weekly run rate maintains gaming revenues within expected seasonality, having followed historical trends by falling off dramatically after the May Day Golden Week holiday from 1 to 5 May. Industry analysts had reported a surprisingly strong Golden Week in which GGR is said to have exceeded MOP$1 billion (US$124 million) per day.
Citi’s George Choi and Timothy Chau said GGR through the first 18 days of May combined is estimated at MOP$12.7 billion (US$1.58 billion) and have maintained their revenue forecast for the month at MOP$21.0 billion (US$2.61 billion) – up 4% year-on-year and back to 81% of pre-COVID levels.
