Macau’s total casino gaming revenue (GGR) is estimated at 13.3 billion MOPs ($1.65 billion) or 578 million MOPs per day for the first 24 days of June, according to a Monday memo from JP Morgan Securities (Asia Pacific), citing its own industry checks.
“This means that our daily utilization rate last week was 514 million per day, further down to a more than six-month low, compared with 533 million in the previous week,” wrote JP Morgan analyst DS Kim, Mufan Shi and Selina Li.
“I think that’s because June is the weakest month of the year anyway, when seasonality is weak and VIP win rates are low, such as a slowdown after the holidays, UEFA Euro 2024 [football tournament],” they added
Nevertheless, analysts said last week that the GGR figures were “still disappointing because they suggest some downside risks to the monthly GGR forecast.”
The agency projected the June GGR tally to be between 17.5 billion and 18 billion.
JP Morgan estimates that on a monthly basis, “popular market GGR is above 105% of pre-COVID levels,” while VIPs are in the low 20% range, similar to Q4 utilization but weaker than April/May GGR.”
May was a notable month, with its best monthly GGR since the start of the COVID-19 pandemic in early 2020. 실시간 바카라사이트
“According to forecasts printed so far in the second quarter, GGR is expected to decline from -2% to -3% quarter-on-quarter, following mass -2% and VIP -5%, which is consistent with forecasts printed,” the JP Morgan team said.