Operator News
China – Macau’s casinos to ‘comfortably’ reach highest post-pandemic revenues in October
By Phil - 24 October 2023
JP Morgan believes Macau’s casino will ‘comfortably’ reach its best revenue levels since before COVID of US$2.3bn to US$2.4bn in October.
JP Morgan analysts DS Kim, Mufan Shi and Selina Li said it was ‘not surprising but still assuring that the month is on track to hit another post-pandemic high, quite comfortably.’
Revenue for the first week of October is believed to have hit US$1.8bn, giving a daily average of US$71m per day, marking an increase of 20 per cent week-on-week.
Overall revenue would come in at 72 per cent of October 2019’s levels with mass surpassing 2019 but VIP lagging at 25 per cent. JP Morgan highlighted that Las Vegas Sands results ‘turned out to be better than feared with solid margin and OPEX control.’
