{"id":5453,"date":"2023-08-22T11:46:30","date_gmt":"2023-08-22T11:46:30","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=5453"},"modified":"2023-08-22T11:46:30","modified_gmt":"2023-08-22T11:46:30","slug":"mass-market-casino-gross-gaming-revenue-expected-to-fully-recover-during-golden-week-in-october","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/mass-market-casino-gross-gaming-revenue-expected-to-fully-recover-during-golden-week-in-october\/","title":{"rendered":"Macau Mass GGR Expected to Fully Recover During Golden Week In October"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.top10casinowebsites.net\/wp-content\/uploads\/2016\/03\/macau-casinos.jpg\" width=\"300\" title=\"Macau Mass GGR Expected to Fully Recover During Golden Week In October\" alt=\"Macau\" class=\"alignleft size-medium\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>Macau\u2019s mass GGR should return to 2019 levels in early Oct as visitor numbers continue to pick up<\/li>\n<li>The \u201cwhales\u201d are also back and still willing to gamble huge amounts of money <\/li>\n<li>China partners with neighboring countries to stop cross-border gambling<\/li>\n<\/ul>\n<p>Macau is expected to see a full <a href=\"https:\/\/www.top10casinowebsites.net\/news\/macau-ggr-continues-to-recover-as-it-reaches-a-post-pandemic-high\/\">recovery in mass-market casino gross gaming revenue<\/a> (GGR) this October, helped by the consistent increase in visitor volume. In particular, GGR will most likely return to pre-pandemic levels during \u201c<em>October Golden Week<\/em>\u201d, a holiday period commemorating the founding of the People\u2019s Republic of China.<\/p>\n<h2>100% Recovery Expected this Oct<\/h2>\n<p>JP Morgan Securities (Asia Pacific) Ltd stated in a recent note that Macau\u2019s daily GGR from August 1-20 stood at around MOP560 million (US$69.4 million), up from the MOP537 million recorded in July. JP Morgan analysts <strong>Selina Li, DS Kim, and Mufan Shi<\/strong> said that figure represents a daily run rate of 90 to 95% of 2019 levels. In total, Macau\u2019s mass GGR for August so far is at MOP11.2 billion. <\/p>\n<p>As visitor numbers continue to ramp up, JP Morgan said Macau\u2019s mass GGR should achieve 100% recovery in the first week of October which has been designated as the 2023 \u201cGolden Week\u201d in China. Running from September 29 to October 6 this year, the annual holiday is usually marked by various events and festivities to celebrate China\u2019s National Day (October 1). This period is among Macau\u2019s peak seasons, during which casino revenue enjoys a huge boost.<\/p>\n<p>With full recovery in Macau\u2019s mass GGR near at hand, analysts from Citigroup also noticed that the so-called \u201c<em>whales<\/em>\u201d are starting to return to the city. In the context of casino gambling, whales refer to high rollers or gamblers with massive bankrolls. <\/p>\n<p>As many as 24 whales have so far played at Macau casinos in August, which Citigroup said is the highest single-month record in 2023. That compares to the 27 tallied during the 2019 Chinese New Year. <\/p>\n<p>Citigroup analysts <strong>Ryan Cheung<\/strong> and <strong>George Choi<\/strong> said these whales have been placing bets of between HKD100,000 (approx. US$12,670) and HKD500,000 per hand, which suggests that they are still willing to wager exceptionally large amounts of money despite China\u2019s present economic state.<\/p>\n<h2>China Partners With Neighbors To Stop Cross-Border Gambling<\/h2>\n<p>In an unrelated development, <a href=\"https:\/\/www.top10casinowebsites.net\/news\/china-issues-warning-and-asks-cross-border-gambling-suspects-to-surrender-quickly\/\">China has intensified its campaign against cross-border online gambling<\/a> and telecom fraud by establishing a cooperation center in partnership with neighboring countries, Thailand, Laos, and Myanmar. The center will be located in Thailand\u2019s Chiang Mai province.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Macau\u2019s mass GGR should return to 2019 levels in early Oct as visitor numbers continue to pick up The \u201cwhales\u201d are also back and still willing to gamble huge amounts of money China partners with neighboring countries to stop cross-border gambling Macau is expected to see a full recovery in mass-market casino gross gaming [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-5453","post","type-post","status-publish","format-standard","hentry","category-industry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macau Mass GGR Expected to Fully Recover During Golden Week In 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