Macau Casino Revenue at MOP533 Million Per Day at Beginning of August – JP Morgan

August 9, 2023 | Reveue

MACAU, SAR (August 8, 2023) — Investment bank JP Morgan has estimated gross gaming revenue for the first six days of August at MOP3.2 billion (US$400 million), or MOP533 million per day, with the figure suggesting a flattish momentum compared to last month.

According  to the Macau News Agency (MNA) analysts DS Kim and Mufan Shi, reported the first few days’ casino revenue stood at a daily average of MOP533 million, a figure that is slightly lower than July’s MOP537 million.

Last month, Macau made the highest monthly revenue since the scrapping of Covid restrictions early this year, raking in as much as MOP16.66 billion (US$2.07 billion).

The August performance also suggests a mass-market recovery to 90 per cent of the pre-Covid level before a full recovery by October, JP Morgan said.

Meanwhile, S&P Global Ratings has suggested recently that casino revenue associated with the mass market will reach a range of “85 per cent to 90 per cent” of pre-Covid levels this year, compared to a previous forecast of 75 per cent to 85 per cent.

According to the ratings agency, market-wide mass-market revenue last quarter climbed to 86 per cent of second-quarter 2019 levels, with revenue from VIP punters up to 35 per cent of where it was before the pandemic.

SOURCE: Macau News Agency (MNA).

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