Macau’s gross gaming revenue is believed to have grown 16% week-on-week to around MOP$686 million (US$84.9 million) per day for the seven days from 19 to 25 May, aided by a significant improvement in VIP volumes according to industry channel checks.
Citigroup’s George Choi and Timothy Chau said Macau-wide GGR is now tipped to have hit MOP$17.5 billion (US$2.17 billion) for the first 25 days of May combined, with the past week’s spike described as a “pleasant surprise” post-May Day Golden Week. Mass GGR reportedly grew by around 10% week-on-week.
In a note, Citi attributed the sudden improvement to the opening of the uber-high-end Capella at Galaxy Macau – pushing their May GGR forecast to at least MOP$21 billion (US$2.60 billion) and making it comfortably the biggest month of the year so far. That’s despite expectations that GGR will slightly moderate for the remaining days of the month.
The new May forecast would have GGR coming in 5% higher-year-on-year and back to 82% of 2019 levels.
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