Macau GGR Expected to Reach MOP 17.5 Billion in January

MACAU, SAR (January 4, 2024) — Macau’s gross gaming revenue (GGR) for January 2024 is expected to reach MOP 17.5 billion (US$2.2 billion), representing a recovery to 70 per cent of the 2019 level, according to a research report released by brokerage Citigroup.

Macau News Agency (MNA) report Citigroup noted that December 2023 GGR was MOP 18.567 billion, indicating a daily run-rate of around MOP 600 million, exceeding both the market’s and the broker’s expectations by about 6 per cent.

Macau’s gross gaming revenue (GGR) for January 2024 is expected to reach MOP 17.5 billion (US$2.2 billion)

The average daily run-rate in late December increased to around MOP 683 million, up from the MOP 543 million reported in the week prior. Citigroup analysts said that the increase is indicative of a potential continuation of growth in the coming period.

In a recent note, brokerage firm Morgan Stanley said Macau’s full-year GGR in 2024 is expected to rise 28 per cent year-on-year, recovering to 80 per cent of the pre-pandemic level.

According to MNA the broker expects Macau’s January GGR to remain relatively steady, following the normal seasonality pattern, at MOP 18.8 billion. The forecast indicates a recovery to approximately 75 per cent of the 2019 level.

In 2023, Macau’s casinos ‘‘raked in‘ MOP 183 billion in GGR, accounting for 62.5 per cent of the full-year tally recorded for 2019, according to the latest data released by the Gaming Inspection and Coordination Bureau (DICJ).

SOURCE: Macau News Agency (MNA).