Macau's casino Gross Gaming Revenue (GGR) reached approximately US$825 million for the first eight days of October, according to a report by JP Morgan Securities (Asia Pacific) Ltd. This translates to around MOP6.65 billion, or approximately MOP830 million per day. This daily figure represents a nearly 29 percent increase compared to the average daily GGR of approximately MOP645 million observed during this year's May Golden Week, which coincided with Labour Day.
This year's Autumn 'Golden Week,' as designated by mainland China authorities, extended for eight days, running from September 29 to October 6, encompassing both the Mid-Autumn Festival and China's National Day celebrations.
While GGR remained strong during the initial six days of the holiday, it moderated during the final two days. Daily GGR for October 1 to 6 was estimated at over MOP930 million, whereas October 7 and 8 saw a more 'modest' daily GGR of around MOP500 million, as reported by JP Morgan analysts DS Kim, Mufan Shi, and Selina Li.
The daily GGR trend from October 1 to October 6 indicated an approximate "80 percent recovery" in headline GGR compared to the equivalent Golden Week holiday in 2019 when aggregate GGR reached MOP1.16 billion. This year's holiday marked a "significant acceleration" from the approximately 70-percent recovery observed in Macau's GGR during the third quarter of 2023, according to the JP Morgan team.
The analysts also noted that Macau's mass GGR had likely surpassed 110 percent to 120 percent of 2019 Golden Week levels, exceeding the 100-percent benchmark that many buy-side investors had expected. In summary, Macau's Autumn Golden Week exceeded expectations and performed exceptionally well.
During the September 29 to October 6 period, Macau welcomed a total of 932,365 visitors, with a peak of 158,726 on Saturday, September 30. Approximately 76.1 percent of these visitors were from mainland China, according to data published by the Macao Government Tourism Office (MGTO).
Macau's gaming scene is on fire! The city welcomed 932,365 visitors during the week, adding to the festive casino fervor! 🎰💰🚀
It's great to see Macau's casino industry thriving during the Autumn Golden Week. The impressive daily GGR figures and the fact that it exceeded expectations show that there's strong demand for entertainment and gaming in the region. It's a positive sign for Macau's economic recovery.