Macau’s surprisingly strong October GGR result, which comfortably exceeded street estimates, proves that the city’s upcycle is indeed underway and should be enough to finally dispel any lingering concerns around weakening demand, according to industry analysts.
In a Monday note after the DICJ reported October gaming revenues of MOP$24.1 billion (US$3.01 billion) – the highest monthly tally since October 2019 – investment bank JP Morgan outlined its belief that a weaker than expected finish to September and start of October through the Golden Week holiday was in fact typhoon-driven and temporary.
With GGR having bounced back strongly in the weeks that followed, the bank explained that Macau’s upcycle remains intact, fueled by the positive wealth effect and liquidity.
