Macau’s gross gaming revenue for the first seven days of May is already running 31% higher than April GGR, with daily revenues sitting at around MOP$640 million (US$79 million), according to investment bank JP Morgan.
In a Monday note, JP Morgan analysts DS Kim and Mufan Shi said that channel checks indicated total GGR of MOP$4.5 billion for the first seven days of the month, with the daily rate of MOP$640 million comfortably exceeding April’s MOP$490 million (US$61 million) per day.
April GGR of MOP$14.72 (US$1.82 billion) had already comfortably exceeded consensus.
While JP Morgan’s May estimates were aided by the May Day Golden Week holiday, Kim and Shi described the figures as “undeniably a strong print in our view.”
