Macau's casino industry witnessed a modest increase in gross gaming revenue (GGR) for the month of March. According to the data released by the Gaming Inspection and Coordination Bureau on Tuesday, the GGR rose by 0.8 percent compared to the same period last year, reaching a total of nearly MOP19.66 billion, which is equivalent to approximately US$2.45 billion. This slight uptick reflects the ongoing recovery and fluctuations within the gaming sector of the region.
Comparative Analysis of Monthly and Yearly GGR
When comparing the March figures to the previous month, there was a slight decrease of 0.4 percent from February's total of MOP19.74 billion. Despite this monthly dip, the cumulative GGR for the year so far stands at nearly MOP57.66 billion, marking a 0.6 percent increase over the corresponding period in 2024. This data indicates a steady, albeit slow, growth trend in the casino revenue for the year.
Looking back at historical data, the March GGR figure represents 76.1 percent of the MOP25.84 billion achieved in March 2019, the year before the onset of the Covid-19 pandemic. This comparison underscores the long-term impact of the global health crisis on Macau's casino industry and the ongoing efforts towards recovery.
Future Projections and Analyst Insights
Brokerage JP Morgan Securities (Asia Pacific) Ltd provided insights into the future trajectory of Macau's casino GGR in a mid-March memo. The analysts projected that the GGR growth "to accelerate into the latter half" of this year, expecting an increase of 5 percent to 6 percent year-on-year. This optimism is based on "easier" calendar comparisons and the anticipation of zero GGR growth in the first six months of the year.
According to JP Morgan, this acceleration in the latter half of the year would result in overall "a modest 3 percent growth for full-year 2025," indicating a cautious yet positive outlook for the future of Macau's gaming industry.
Source: Macau March Casino GGR up 0.8pct y-o-y: govt, GGRAsia, April 1, 2025.
Posted by Wizard
Apr 02 2025
Apr 02 2025
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