Macau casino GGR up 67pct y-o-y in Jan, 4pct sequentially

Casino gross gaming revenue (GGR) in Macau rose by 67.0 percent year-on-year in January to MOP19.34 billion (US$2.40 billion), according to data from the city’s Gaming Inspection and Coordination Bureau released on Thursday.

The January result – the second highest monthly tally pos-Covid – was up 4.1 percent compared to December’s MOP18.57 billion.

JP Morgan Securities (Asia Pacific) Ltd said in a recent note that Macau’s daily casino GGR in January was showing a “robust run-rate” despite “weaker seasonality” ahead of the Chinese New Year holiday period.

The Chinese New Year holiday period falls on February 10 this year, and runs until February 17.

According to the brokerage, Macau’s mass revenue in January was running above 100 percent of pre-Covid levels.

Macau’s accumulated GGR for full-year 2023 grew by 333.8 percent year-on-year, to MOP183.06 billion, as travel and other Covid-19-related restrictions were still in place in Macau throughout 2022: these were discontinued from January last year.

As city-wide casino GGR for full-year 2023 exceeded MOP180 billion, it means the local six casino operators will have to increase their pledged non-gaming spending by 20 percent.

Under the 10-year concession contracts with the city’s government that came into place in January 2023, if Macau’s annual GGR reached or exceeded the MOP180-billion mark by 2027, the casino firms would have to increase by at least 20 percent their collective MOP108.7 billion non-gaming and overseas-marketing spending pledges for the 2023 to 2032 period.

BY: 릴게임사이트

Related Posts

Pagcor Cuts Betting Platform Fees Through April 1

Alejandro Tengco, president and chief executive of the Philippine gaming regulator, said the Philippine gaming regulator is set to cut licensing fees for “online and on-site betting platforms”…

MGM China Wynn Macao Ltd.’s Dividend Surprise

Two Macau casino operators each announced their annual dividends on Thursday for the first time since the 2019 trading year before the COVID-19 pandemic, according to what one…

Macau Casino GGR $1.8 billion on March 24

Citing industry inspection results, JP Morgan Securities (Asia-Pacific) said on Monday that Macau’s total casino gross gaming revenue (GGR) daily utilization for the first 24 days of March…

Actor Shin Hyun-joon, who is serious about sports for the disabled, challenges wheelchair basketball

Shin’s challenge is his second after para ice hockey, which he played with Captain Han Min-soo, the main character of the 2018 PyeongChang Paralympic bronze medal, in December…

Should I Fill Shohei Ohtani’s Vacancy with Votto?

Should I Fill Ohtani’s Vacancy with Votto? MLB Angels ‘Eating Mustard While Crying’ The Los Angeles Angels, who had to send Shohei Ohtani (29), who became a free…

KT Wes Benjamin, Who Returned 11 Runs to 11K

KT Benjamin, Who Returned 11 Rruns to 11K, “Successfully Took Revenge on Hanwha” KT Wiz foreign starter Wes Benjamin succeeded in getting revenge against the Hanwha Eagles. Benjamin…

Leave a Reply

Your email address will not be published. Required fields are marked *