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Macau GGR almost US$1.6 bln on July 21

In the first 21 days of July, Macau's casino gross gaming revenue (GGR) was estimated at $12.75 billion ($1.59 billion), or $670 million per day, a level that reflected "significant" gaming demand despite concerns about the negative impact of China's illegal currency fraud, according to a note on Monday from JP Morgan Securities (Asia-Pacific) Ltd. that reflected "significant" gaming demand despite concerns about the negative impact of China's promised illegal currency fraud.

Citing its own industry inspections, JPMorgan's team said its GGR utilization rate in the third week of July was much higher than the MOP 550 million per day in the first week of this month, but likely remained "flat" compared to the previous week at 635 million per day.

"This reflects pretty decent demand from summer holidays, if not fantastic, despite concerns about a crackdown on illegal forex gangs," wrote DS Kim, Mufan Shi and Selina Li, analysts at JP Morgan.

The agency maintained its Macau casino GGR forecast for July at about MOP18.5 billion. Such a tally, if realized, would represent 76% of the same month in 2019, the trading year just before COVID-19.

"On a per-sector basis, mass GGR is estimated to be around 110% of pre-COVID-19 levels, while VIPs are estimated to be in the mid-20% range. Probably slightly below sales side expectations but in our view, it is consistent with purchases side expectations," JP Morgan team noted.

Macau's casino bulk market segment, including slot machines, posted revenue of just under $43.12 billion in the second quarter of 2024, up 29.3% year-over-year but was sequentially flat.

In the three months to June 30, public market baccarat's revenue alone reached nearly MOP346.3 billion. In the second quarter, public market baccarat's revenue figures rose 17.0% in the same quarter of 2019, according to data from the city's casino regulator.

BY: 바카라사이트 추천

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