Macau October GGR US$2.6bln, best since January 2020

Nov 01, 2024 Newsdesk Latest News, Macau, Top of the deck  

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Macau’s casino gross gaming revenue (GGR) in October stood at nearly MOP20.79 billion (US$2.60 billion), up 6.6 percent from a year earlier, and a 20.5-percent increase sequentially. That is according to a Friday announcement from the local regulator, the Gaming Inspection and Coordination Bureau.

October was the best monthly performance since January 2020, at the very beginning of the Covid-19 pandemic, when the city’s GGR stood at nearly MOP22.13 billion.

Last month had the benefit of the so-called the October Golden Week, a seven-day mainland China break that ran this year from October 1 to October 7 inclusive.

The daily run-rate of Macau’s casino GGR was estimated to have “slowed materially” in the third week of October, following what investment analysts described as a “very strong” Golden Week.

The latest monthly GGR figure took such Macau revenue for the first 10 months this year to MOP190.14 billion, up 28.1 percent on the prior-year period.

China International Capital Corporation Hong Kong Securities Ltd (CICC) suggested in a recent note that Macau’s casino GGR in the fourth quarter may see a 4 percent sequential increase.

“We think the outperformance in the first two weeks of October could indicate resilient demand and the return of premium patrons heading into the rest of the year,” stated the institution in a memo in late October.

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