Macau’s gross gaming revenue for the first week of January reached 4.4 billion

JP Morgan Securities reported 4.4 billion patacas (Rmb49.7 billion) in gross gaming revenue for Macau in the first 7 days of January. According to the company, this provides a good start to 2024 for the industry.

Daily revenue in January totaled 630 million patacas (over Rmb7 billion). In December 2023, this value was equal to 599 million patacas (6.77 billion rubles), which was already considered a record at the time. Analysts DS Kim, Mufan Shi and Selina Lee attribute the growth of indicators to the active increase in the flow of people during the New Year holidays. Nevertheless, it is impressive and gratifying, they added.

According to JP Morganearnings for the remainder of January, JP Morgan Securities’ outlook remains positive. The first month of 2024 could bring in between 17.5 and 18 billion patacas (RUB 197.7 billion and RUB 203.4 billion, respectively). This result should meet market expectations ahead of the Chinese New Year, which this year will be held from February 10 to 17.

Analysts also expect an increase in earnings before interest, taxes, depreciation and amortization (EBITDA). Growth in this metric for Macau’s casino industry could be as follows


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