Investment banks are projecting Macau’s March gross gaming revenue to reach MOP 22bn, representing a 12% year-on-year increase, according to Macao Daily.
A research note from Citigroup indicated that industry data showed GGR of MOP 10.55bn in the first 15 days of March. That implies average daily revenue of about MOP 700m during the past week. The bank expects stronger performance in the second half of the month, supported in part by a series of Korean pop concerts scheduled in Macau.
Citigroup revised its earlier March forecast down from MOP 22.5bn to MOP 22bn but maintained that the revised figure would still reflect 12% annual growth. The estimate suggests average daily revenue of roughly MOP 716m for the remainder of the month.
UBS noted that average daily revenue last week was broadly in line with the level seen in the first eight days of March. Month-to-date, daily GGR stands at approximately MOP 703m, up around 11% year-on-year but down about 5% compared with February. UBS forecasts full-month daily revenue at about MOP 690m, equating to 9% year-on-year growth.
The combined total for January and February reached MOP 43.26bn, reflecting 13.9% growth compared with the same period last year.
March’s projected rebound suggests that year-on-year recovery momentum in Macau’s gaming sector remains intact despite short-term monthly fluctuations.
Macau recorded GGR of MOP 20.63bn in February, up 4.5% from a year earlier
