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Macau GGR tracking as expected at US$80 million per day in early March

Ben Blaschke by Ben Blaschke
Mon 10 Mar 2025 at 18:45
CLSA survey finds premium mass players now more prepared for multiple visits to Macau
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Macau’s gross gaming revenue is estimated to have reached MOP$5.75 billion (US$718 million) through the first nine days of March, equivalent to MOP$638 million (US$79.7 million) per day, largely in line with estimates according to JP Morgan analysts.

In a Monday note, the investment bank described the month-to-date performance as “encouraging for a shoulder month like March”, implying mass GGR is running at 110%+ of pre-COVID levels and VIP at low-20%.

JP Morgan analysts DS Kim, Selina Li and Mufan Shi continue to expect March GGR will stay flattish year-on-year at around MOP$19 billion, keeping 1Q24 GGR also flat albeit against relatively tough comps.

“We expect GGR growth to accelerate into the latter half of the year on easier comps, resulting in a modest 3% growth for FY2025,” they wrote.

The March update comes with some analysts having recently downgraded their forecasts for Macau’s 2025 GGR due to a slower start to the year than previously anticipated.

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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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