May 08, 2023 Newsdesk Latest News, Macau, Top of the deck  
Macau gross gaming revenue (GGR) for the first seven days of May is estimated at MOP4.5 billion (US$556.7 million), says brokerage JP Morgan Securities (Asia Pacific) Ltd, citing its own checks.
That would imply a daily run-rate of MOP640 million-plus, which would be “well above” the MOP490 million per day achieved in April, “let alone MOP385 million” daily in the first quarter this year, stated a Monday memo from analysts DS Kim and Mufan Shi.
The pair said the Macau GGR numbers were “looking great, despite frustratingly weak stock momentum”.
That was a reference to a recent retreat for the stock prices of Macau’s gaming concessionaires.
The first three days of May were part of a five-day break on the Chinese mainland that began on April 29 and encompassed Labour Day on May 1.
During the May portion of the holiday period, JP Morgan estimates daily casino GGR was as high as MOP900 million, down to about half that, in the other four days to May 7.
Overall, this indicated that demand for mass-market gambling had “recovered to at least 90 percent-plus of pre-Covid levels, if not 100 percent-plus” during the holiday, according to the institution’s estimates, which was “much higher than 65 percent recovery” in the first quarter, said the JP Morgan analysts.
Apr 24, 2024
Apr 23, 2024
Apr 26, 2024
Apr 26, 2024
Apr 26, 2024
The Edge financial news outlet reported on Friday a statement on behalf of Malaysian businessman Vincent Tan of lottery specialist Berjaya Corp Bhd, describing as “inaccurate” reports of talks on...(Click here for more)
"With our ambition to be the leading gaming platform for the regulated online real money gaming industry, the addition of NeoGames to our team advances our strategy to build global scale and capability"
Trevor Croker
Chief executive of Aristocrat Leisure