Macau February GGR falls 4 pct mo-m to US$2 billion

Macau’s total casino gaming revenue (GGR) rose 79.1% year-on-year to $18.49 billion ($2.29 billion) in February, data released on Friday by the country’s Bureau of Game Inspection and Coordination showed. However, the results were down 4.4% from January.

February’s GGR results fell sequentially despite what investment analysts described as a “strong performance” during the comprehensive Chinese New Year holiday from Feb. 10-17.

JPMorgan Securities (Asia Pacific) said in a note on Friday that the latest data “has been falling” on the market’s “rising expectations” amid weaker-than-expected player demand since Feb. 17.

February gaming revenue was “slightly lighter than the (up) consensus of MOP 19 billion versus MOP 20 billion, as demand appears to have slowed slightly more since the Lunar New Year than we would have liked to see,” wrote analysts DS Kim, Mufan Shi and Selina Li.

The “New Year holiday peak daily GGR” was “likely to have hit over 1 billion MOPs for the first time in more than four years, with an utilization rate of over 900 million MOPs during the Golden Week in October,” the brokerage firm said in a Feb. 19 note.

The latest data for the whole of February showed Macau’s GGR in the first two months of 2024, up 72.7% year-on-year to nearly MOP 37.82 billion.

BY: 경마사이트프로

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