Macau Expected to Achieve Highest Monthly Gaming Revenue Since Pandemic Onset
Despite typhoon warnings impacting daily run-rates, Macau is on track to achieve the highest monthly gross gaming revenue (GGR) in July since the beginning of the COVID-19 pandemic. Investment bank JP Morgan estimates that GGR for the first 16 days of July reached MOP$8.25 billion (US$1.03 billion), surpassing the Q2 average. While the typhoon may have slowed daily GGR to around MOP$493 million (US$61 million) recently, analysts expect July to surpass MOP$16 billion (US$1.99 billion) in total GGR, indicating a 90%+ recovery in mass GGR compared to pre-COVID levels. JP Morgan also predicts that Macau’s concessionaires will report all-time high margins for the June 2023 quarter, with Sands China leading the way in its upcoming Q2 results announcement.