Citing industry inspections on Monday, JP Morgan Securities (Asia-Pacific) said Macau\'s daily casino gross gaming revenue (GGR) utilization rate for the first 24 days of March was 621 million MOPs ($77.1 million), bringing the total MOP14.9 billion for the period.
Analysts DS Kim, Mufan Shi, and Selina Li wrote that the observed daily utilization rate in March was "just under 1% to 2%" above the average daily MOP of 630 million in the first two months of 2024, and "slightly better than March\'s historical trend of -4% compared to January and February." 바카라 필승법
"It also suggests that last week\'s utilization rate remained stable and solid at 628 million MOPs per day (flat from the previous week), showing no signs of slowing underlying demand," they added.
The broker estimates that the bulk GGR, including slots, is "about 110% of pre-COVID levels" consistent with trends in the first two months of 2024.
"This compares to a 104% recovery in the fourth quarter of 2023 and suggests that in the first quarter of 2024, bulk gaming demand could rise from +3% to 4% quarter-over-quarter, outperforming historic seasonality of +2% quarter-over-quarter," the agency said.
Analysts said VIP volumes in Macau "appear to remain in the mid-20% range" compared with pre-COVID levels, with little change in underlying demand.
"We continue to build models to print around 19 billion GGR in March, which will see our first-quarter GGR grow 5% quarter-over-quarter (over 60% year-over-year), another post-pandemic peak," they added.
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