Macau casinos have seen an estimated MOP3.2 billion ($400 million) in gross gaming revenue (GGR) during the first 6 days of August, an average daily run rate of MOP533 million ($66.2 million), suggesting a flattish momentum compared to last month, as per investment bank JP Morgan.
According to analysts DS Kim and Mufan Shi, the average daily run rate of MOP533 million during the first few days of August was slightly lower than July’s MOP537 million ($66.7 million). As per the report, the August performance suggests a mass-market recovery to 90% of the pre-Covid level before a full recovery by October.
Meanwhile, S&P Global Ratings has suggested recently that casino revenue associated with the mass market will “reach a range of 85% to 90%” of pre-Covid levels this year, compared to a previous forecast of 75% to 85%.
According to the ratings agency, market-wide mass-market revenue last quarter climbed to 86% of Q2 2019 levels, with revenue from VIP punters up to 35% of where it was before the pandemic.
Last month, Macau casinos’ gross gaming revenue (GGR) increased by more than 4,000% from the previous year to MOP16.7 billion ($2.1 billion), according to the report by the Gaming Inspection and Coordination Bureau (DICJ).
July’s total was also up 9.6% from the GGR posted in June, which stood at MOP15.207 billion ($1.88 billion). Accumulated revenue stands at MOP96.79 billion ($12.05 billion), up 263% year-over-year.