Macau casino on its way to full market recovery, earning $67 million daily

Macau’s gaming industry generated an estimated 3.2 billion MOP$ (400 million) in total gaming sales in the first six days of August. Analysts at investment bank JPMorgan reported that daily sales in the region amounted to about 533 million MOP$ ($66.7 million) between Aug. 1-6, 2023, a testament to the continuation of the trend seen in the Macau market in July.

$66.7 million per day in August:

JPMorgan analysts DS Kim and Mufan Shi reportedly said the Macau gaming industry averaged $537 million ($67.2 million) in revenue in the first six days of August. However, these figures represent a steady growth that is expected to be experienced in the coming period flat.

“While it is difficult to derive meaningful trends from six days of data, this means bulk GGRs are comfortably tracking above 90% of pre-COVID levels,” JP Morgan analysts DS Kim and Mufan Shi reportedly said. “We continue to expect to achieve a recovery above 100% by October, as reported by GGRsia,” they added.

July Recorded:

GGRAsia also reported that analysts compared the market’s July performance to the previous quarter, with the public sector recovering 92-93% in the month of July, generating a total of $16.66 billion ($2.06 billion) in MOPs. As reported, the recovery achieved by the Macau gaming industry in July beat sales in the second quarter of 2023, which saw a recovery of about 87-88%.

At the same time, Inside Asian Gaming reported that July’s revenue level of $2.06 billion represents a new post-pandemic record in the monthly multiplier achieved by the gaming industry in the region. The figures brought by the Office for the Coordination of Game Inspection (DICJ) are said to be more than 40 times higher than levels reached in July 2022 and 9.6% higher than in June 2023.

Full October recovery expected:

That’s why JPMorgan analysts are reportedly using daily averages for July and August to expect the Macau gaming industry to already recover 95% by the end of the third quarter of 2023.

As GGRAsia reported, investment banking experts expect the recovery to be extended at the start of the fourth quarter, with Macau’s gaming industry already generating enough daily revenue to bring a 104% recovery in October 2023 and setting annual gaming gross revenue around MOP184.2 billion ($22.92 billion).

BY: 슬롯머신

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