March Gaming Revenue Same as January’s – Morgan Stanley
MACAU, SAR (March 3, 2023) — Macau’s March gross gaming revenue is likely to climb further – by 13 per cent – to MOP11.6 billion (US$1.43 billion) from a month earlier, Macau News Agency (MNA) reported investment bank Morgan Stanley predicted recently.
According to MNA, in a note released today (3 March 2023), Morgan Stanley’s analysts Praveen K Choudhary and Gareth Leung said that local casinos could rake in as much as MOP11.6 billion in gaming revenue – up 13 per cent month on month but a whopping 217 per cent compared to a year earlier – or in other words, about MOP375 million per day.
However, if proven correct, the overall figure accounts for 45 per cent of the 2019 level only.
The latest forecast for March from the investment bank stands at the same level as the January outcome – MOP11.6 billion – supported by a weeklong Lunar New Year holiday. February recorded MOP10.32 billion in gaming revenue.
The two analysts also noted that the first quarter of 2023 could see industry property EBITDA return to 37 per cent of the 2019 level, or roughly USD 920 million.
SOURCE: Macau News Agency.Tags: gross gaming revenue (GGR), Macau SAR, Morgan Stanley