{"id":5439,"date":"2023-08-02T11:55:30","date_gmt":"2023-08-02T11:55:30","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=5439"},"modified":"2023-08-02T11:55:30","modified_gmt":"2023-08-02T11:55:30","slug":"macau-ggr-continues-to-recover-as-it-reaches-a-post-pandemic-high","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/macau-ggr-continues-to-recover-as-it-reaches-a-post-pandemic-high\/","title":{"rendered":"Macau GGR Continues to Recover As It Reaches A Post-Pandemic High"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.top10casinowebsites.net\/wp-content\/uploads\/2016\/03\/macau-casinos.jpg\" width=\"300\" title=\"Macau GGR Continues to Recover As It Reaches A Post-Pandemic High\" alt=\"Macau Casinos\" class=\"alignright size-medium\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>The Premium mass market sector in Macau has fully recovered as of July 2023<\/li>\n<li>July\u2019s results are the best since the pandemic, recovering to 92-93% of 2019 levels<\/li>\n<li>Macau\u2019s hospitality industry is also recovering well with more hotels being built<\/li>\n<\/ul>\n<p>Overall <a href=\"https:\/\/www.top10casinowebsites.net\/news\/macau-ggr-forecast-upgraded-for-2023-despite-tourist-drop\/\">gross gaming revenue (GGR) in Macau<\/a> has come closer to reaching pre-pandemic levels, with the July results representing 92-93% of 2019 figures, according to a note recently issued by <strong>JP Morgan Securities (Asia Pacific) Ltd<\/strong>. <\/p>\n<p>The premium mass segment was among the best performers of the month, recovering to more than 100% of pre-COVID figures, the note stated.<\/p>\n<h2>Premium Mass Achieves Full Recovery in July <\/h2>\n<p>Latest data from Macau\u2019s gaming regulator, the <strong>Gaming Inspection and Coordination Bureau<\/strong>, show casino GGR hit MOP16.66 billion (US$2.07 billion) in July, up 9.6% from the previous month. This represents the best result for the city\u2019s gaming sector since the COVID-19 pandemic. July\u2019s figures went above the GGR recorded in May which was previously the best monthly performance since January 2020.<\/p>\n<p>JP Morgan analysts <strong>Mufan Shi<\/strong> and <strong>DS Kim<\/strong> said that figure represents a 92-93% recovery, compared to 87-88% in the second quarter of 2023.  <\/p>\n<p>Premium mass achieved another post-pandemic high, showing a 100% plus recovery in July, compared to the 80% recorded by the grind\/base mass segment. <\/p>\n<p>Premium mass gambling involves cash play at high minimum bets. It differs from VIP betting in that it does not implement a credit and rolling chip system. The latter also posted a strong recovery in July, recovering to 27-28% versus 24-25% in the second quarter, but it didn\u2019t have much of an impact on cash flows and earnings before interest, taxation, depreciation, and amortization (EBITDA), JP Morgan noted.<\/p>\n<p>Based on July\u2019s results, Macau\u2019s daily GGR run rate for the month sat at MOP537 million, an increase of 7.4% from the MOP500 million daily average recorded in Q2 of 2023. That translates to a 68% recovery on 2019 levels. As the month came to a close, GGR run rate most probably increased to MOP 600 million per day, according to JP Morgan.<\/p>\n<p>The analysts said the July figures are pretty respectable considering the <a href=\"https:\/\/macaudailytimes.com.mo\/typhoon-talim-brings-city-to-standstill-as-t8-to-remain-until-afternoon.html\">effects of Typhoon Talim<\/a> which caused a shutdown of public transport across the city.<\/p>\n<h2>More Hotel Rooms in Macau <\/h2>\n<p>As Macau\u2019s gaming industry continues to recover, so does the city\u2019s hospitality sector, with more hotel rooms being developed as of June. The government announced that there are around 17 hotel projects currently under construction or awaiting approval as of the second quarter of 2023, with most of the <a href=\"https:\/\/www.top10casinowebsites.net\/news\/grand-lisboa-palace-could-operate-at-full-capacity-by-december-2023\/\">new projects being built on Cotai<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: The Premium mass market sector in Macau has fully recovered as of July 2023 July\u2019s results are the best since the pandemic, recovering to 92-93% of 2019 levels Macau\u2019s hospitality industry is also recovering well with more hotels being built Overall gross gaming revenue (GGR) in Macau has come closer to reaching pre-pandemic levels, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,13],"tags":[],"class_list":["post-5439","post","type-post","status-publish","format-standard","hentry","category-general","category-industry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macau GGR Continues to Recover As It Reaches A Post-Pandemic High<\/title>\n<meta name=\"description\" content=\"Overall GGR in Macau has come closer to reaching pre-pandemic levels, according to a note recently issued by JP Morgan Securities (Asia Pacific) Ltd.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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