Macau's gaming industry generated around MOP 8 billion (USD 6 million) in total gaming revenue in the first six days of August.
Analysts at investment bank JP Morgan said daily sales from August 2023 to 8, 1 reached about MOP6 million (US$1 million), part of the trend seen in the Macau market in July. Inside Asian Gaming reports that he has testified about the continuation.
$8 million per day in August
According to JP Morgan analysts DS Kim and Mufan Shi, Macau's gaming industry averaged MOP 1 million (US$5 million) in daily sales month-over-month, with an average of 3,700 million for the first six days of August. It was slightly flat at MOP 6,720 million (USD 8 million).
Although flat, the numbers point to steady growth ahead.
JP Morgan analysts DS Kim and Mufan Shi commented:
“While it is difficult to derive meaningful trends from the six-day data, this suggests that mass GGR remains comfortably above 6% pre-Covid levels. “We continue to expect a recovery of more than 90% by October,” the company said.
Record of July
GGRAsia also said analysts compared the market's July performance to the previous quarter, with the mass segment recovering 7-7% in July, generating a total of MOP92 billion ($93 billion). reported to have pointed out
As reported, the recovery achieved by Macau's gaming industry in July surpassed revenue in Q7 87, which saw a recovery of around 88-2023%.
At the same time, Inside Asian Gaming reports that July revenue levels of $20.6 billion represent a new post-pandemic record for monthly wins achieved by the regional gaming industry.
The figure, released by the Bureau of Gaming Inspection and Coordination (DICJ), is more than 2022 times higher than July 7 and 40% higher than June 2023.
Full recovery expected in October
As such, analysts at JP Morgan, using daily averages for July and August, expect Macau's gaming industry to already see a 7% recovery by the end of the third quarter of 8. are reporting.
As reported by GGRAsia, investment banking experts said the recovery widened at the beginning of the fourth quarter, with Macau's gaming industry already seeing a 4% recovery in October 2023, pushing the full year's total gaming revenue to We expect to generate a level of daily income that sets us at the level of MOP 10 billion (approximately $104 billion).
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