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Macau's GGR operating rate gradually increased during September:
The data compares with a GGR of 17.21 billion MOP in January 2020, when COVID-19 officially began, and in August, when the GGR was declared the "best monthly performance" since the 22.13 billion MOP. The September figure was also up 404.2% compared to 2022 when travel restrictions were still in place. In a related development, investment bank JP Morgan said in a recent note, "In extreme weather, Macau casino GGR's run rate was slightly higher than the previous week, following a slow start to the month of September."
Super Typhoon Saola has prompted the Macau Meteorological Department to raise its storm signal to No. 10, the biggest warning sign for tropical storms, during Sept. 2. It said the typhoon temporarily closed all casinos and paralyzed traffic to and from Macau for nearly nine hours as a protection measure.
The figures also show Macau's GGR in the nine months to September 30 was almost MOP 128.95 billion, up 305.3% from the same period in 2022.
Macau's mass market to reach pre-COVID levels during October:
According to the aforementioned JPMorgan, with Golden Week taking place for eight days this year rather than seven days as usual, the Macau public market could reach pre-COVID-19 levels in the coming month, bringing its total GGR back to 94% to 95% in the third quarter of 2023. "This is the first holiday since reopening, if we don't have limited inventory in the first half of the year amid labor shortages, but if all rooms are available and the number of rooms is actually up 15-20% compared to pre-COVID-19 levels. The checks with game hosts show a fairly optimistic sentiment, with Golden Week expecting to yield its best GGR since reopening, and unsurprisingly for most." In addition, over the past week, Citigroup analysts have added, "It is the highest monthly GGR since COVID-19 in October, led by National Day Golden Week." We predict Macau GGR will average around 765 million MOPs per day for October 1-6 and fall to 575 million MOPs per day for the rest of the month
Furthermore, the Macau tourism authority predicts that more than 100,000 Macau tourists will be able to visit each day during the holiday season, and the total number of Macau tourists by August this year is 17.6 million, up 363.1% year-on-year, with 24 million Macau tourists expected to visit by the end of 2023.
Monday, October 9, 2023