Macau April GGR at least 75pct April 2019: Macquarie

Apr 10, 2024 Newsdesk Latest News, Macau, Top of the deck  

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Macau’s April casino gross gaming revenue (GGR) could be at least MOP17.6 billion (US$2.18 billion) or as much as MOP18.7 billion, which would mean a recovery level of 75 percent to 79 percent of 2019 pre-pandemic level, said a Monday note from Macquarie Equity Research.

“Macau had an average daily revenue (ADR) of MOP600 million last week,” wrote Hong Kong-based analysts Linda Huang and Howard Suen.

“Assuming that the rest of the month has a similar ADR of MOP580 million to MOP630 million – since April is a seasonally weaker month than March –, April’s GGR should reach a range of MOP17.6 billion to MOP18.7 billion,” stated the institution, citing as a source “a third-party data provider”.

The Macquarie analysts added: “This represents 75 percent to 79 percent of 2019 levels, versus 75 percent in March 2024.

“We believe this demonstrates a robust recovery trend given the unfavourable calendar shift of the Easter holiday this year versus 2019.”

The aggregate of Macau arrivals for the Easter season this time – March 29 to April 1 inclusive – was 406,329.

Regionally, Easter Monday is only a public holiday in Hong Kong, while Easter Friday is a holiday in Hong Kong and Macau. The Easter period is not a break period on the Chinese mainland.

The number of tourist arrivals to Macau during a four-day period from April 4 to April 7 inclusive, encompassing the Ching Ming Festival – marked in mainland China – stood at above 425,428.

That equated to circa 106,357 per day, which was “slightly above the daily average visitor arrivals during Easter, thanks to mainland tourists,” stated Macquarie.

In March, Macau recoded a GGR tally of just above MOP19.50 billion, up 5.5 percent month-on-month.

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