Macao Bulk GGG Study On Pre-COVID Level In GW Morgan

JPMorgan Securities (Asia Pacific) says the recovery in the number of visitors to Macau during the Golden Week (GW) in October helped lift its gross game revenue (GGR) to more than “100%” compared to 2019, before the start of the COVID-19 pandemic.

“It seems to be in line with our expectations for a recovery of over 100% of the bulk GGR (compared to 2019 Golden Week) so far,” analysts DS Kim, Mufan Shi and Selina Li said in a note Thursday.

“We said the purchasing side bar for the upcoming GGR printing would be around MOP 750 million [$93 million] per day. That would be considered a meaningful ‘bit’ for MOP 850 million for six days [holiday], MOP 450 million for two slow days, and MOP 640 million for MOP 450 million for May 1, 2023 [holiday], they added.

On Thursday, Macau welcomed 91,145 visitors on the seventh day of the Golden Week in October, according to provisional figures from Macau’s public security police. This put the number of visitors for the first seven days of the holiday season at nearly 860,000.

This year, the State Council of China designated it a public holiday that includes Sept. 29 to Oct. 6. This year, it includes Lunar New Year’s Day, which falls on Sept. 29, and Chinese National Day, which falls on Oct. 1.

In a note Thursday, JPMorgan noted that Wednesday, the sixth day of the holiday, had nearly 114,000 visitors, “reaching more than 90% of the 2019 Golden Week, while 84% recovered in the first five days of this year’s Golden Week.”

“The pace of recovery for visitors to the mainland increased dramatically on Day 6, hitting 110% of Golden Week in 2019, and 75% in the first five days,” JPMorgan analysts said.

The securities firm expects the number of visitors to recover to more than 85% of 2019 during the golden holiday, with mainland tourists to hit ’80-85%.

BY: 릴게임사이트

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