Westlife gigs, Grand Prix could help Macau Nov GGR: MS

Nov 06, 2023 Newsdesk Latest News, Macau, Top of the deck  

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November casino gross gaming revenue (GGR) in Macau could get a lift from the Macau Grand Prix motor racing meetings in the first half of November, and the concerts by Irish pop ensemble Westlife (pictured), on November 18 and 19, at the Londoner Macao Arena, says a note from Morgan Stanley Asia Ltd.

The institution forecasts market-wide November GGR to be MOP16.9 billion (US$2.10 billion), or about MOP564 million per day.

That would be about 74 percent of the level in the same month of 2019, during pre-pandemic trading conditions, added the note.

Morgan Stanley estimated daily GGR run-rate in the last week of October at between MOP600 million and MOP610 million, “helped by concerts”.

“This may bode well for November GGR which could be helped by the Grand Prix… and Westlife Concerts,” stated analysts Praveen Choudhary and Gareth Leung.

The November  tally – if realised - would also represent about a 13 percent decline month-on-month, the brokerage stated in its note, following the release of Macau’s October GGR result, which saw the highest monthly gaming revenue since the onset of the Covid-19 pandemic in early 2020.

But if the November forecast is realised, that would actually be better than what the brokerage termed the “normal seasonality” following a typical autumn Golden Week holiday period in October, when it says the market can typically expect a 14 percent sequential decline in monthly GGR during November.

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