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China – Macau’s Golden Week to generate same revenues as 2019’s

By - 18 September 2023

Macau’s Golden Week casino revenues should hit 100 per cent of 2019’s October Golden Week revenues according to JP Morgan.

DS Kim, Mufan Shi and Selina Li elieve visitation and revenues will hit consensus with footfall bouncing back to 85 per cent of Golden Week 2019 levels and mass GGR hitting100 per cent. They highlighted that revenues for the first 17 days of September came in at MOP$8.1bn or US$476m per day giving an average daily revenue of between MOP$540m and MOP$550m.

JP Morgan said: “Most investors will be satisfied if visitation recovery hits 85 per cent of pre-COVID levels, and our checks and recent visitation trends suggest there is little downside risk here.”

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