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Macau’s Gaming Industry To Cross $2 Billion Mark In March 2024 Revenue?

As per news reports, globally renowned financial institution, JP Morgan revealed that Macau’s gaming sector generated $77.9 Million in daily gross gaming revenues (GGR). Inside Asian Gaming (IAG) also reported that the bank’s analysts believe that Macau’s market conditions show no signs of any slowdown.

$1.85 Billion In GGR

As per a report by IAG, JP Morgan is ready with Macau’s gaming figures which prove that there is strong market activity which will extend into April 2024. JP Morgan analysts reportedly stated that the city generated approximately $1.85 Billion in GGR during the first 24 days of March 2024. 

Moving Away From The Past Slump

JP Morgan reportedly compared data with the historical trend of -4% month-on-month (MOM) which is usually seen by Macau casinos in March. Such a heightened activity during a slump period additionally added to the city’s overall GGR. IAG further reported that the mass gaming market’s current rate of growth is approximately 110% higher than the pre-pandemic rate.

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GGRAsia report quoted JP Morgan analysts stating that Macau’s mass market reportedly experienced a robust activity in March. The VIP segment sat around 20% versus the pre-COVID 19 era. JP Morgan’s DS Kim, Mufan Shi and Selina Li, reportedly said that they expect Macau casinos to generate around $2.36 Billion in revenue by the end of March 2024.

Exceeding Q4 2023 Figures

According to IAG, the financial services firm expects Macau’s GGR from Q1 2024 to surpass the Q4 2023 numbers by around 5%. This could potentially set a new record in Macau’s gaming industry. As per reports by GGRAsia, JP Morgan stated the following: “We continue to model March to print a GGR of circa MOP 19 Billion ($2.36 Billion), which will drive first-quarter GGR to grow 5% quarter-on-quarter – or over 60% year-on-year – to witness yet another post-pandemic high.”

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