JP Morgan estimates Macau’s December gross gaming revenue at 17 billion

Investment bank JP Morgan has provided a positive forecast for Macau’s gambling revenues by the end of 2023. The expected amount for December is 17 billion patacas (191 billion rubles).

A fresh JP Morgan investment memorandum states that the forecast corresponds to a daily turnover of about 550 million patacas (Rmb6.2 billion). This performance is achieved with the full recovery of the mass market. According to analysts, gross gaming revenue for the fourth quarter of 2023 could increase by 8% compared to the third quarter result. A jump is also expected so farAnalysts attributed the slight decline to bad luck, especially in the VIP segment, and noted that the Macau market experienced a drawdown during the aforementioned period of the month.

Meanwhile, the city authorities express optimism about the growth of attendance. Macau’s Minister of Economy and Finance Lei Wai Nong said earlier that the total number of tourists could reach 28 by the end of the year.


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