Macau Gets Off to a Good Start with MOP19.34 Billion in GGR
MACAU, SAR (February 1, 2024) — Macau beat analysts’ gross gaming revenue forecasts to achieve MOP19.337 billion (US$2.35 billion) in GGR last month, the latest information from the city’s casino watchdog suggests.
According to Macau News Agency the Gaming Inspection and Coordination Bureau report the figure is up by 67 per cent compared to a year earlier, and accounts for 77.5 per cent of the 2019 level.
J.P. Morgan and Citigroup estimated earlier this month that the GGR for January had the potential to reach MOP17.5 billion, while HSBC expected it to even hit a range of MOP18.5 to 19 billion.
The January result also signaled a good start to the year on a surging mass-market momentum.
Premium-mass gamblers are believed to be spending more per head than they did before the pandemic unfolded, as per Morgan Stanley analysis.
As per the latest government budget for 2024, Macau authorities have made a prediction that the casino industry could generate MOP216 billion in revenue this year.
SOURCE: Macau News Agency.Tags: Macau SAR, January Gross Gaming Revenue (GGR)