{"id":8712,"date":"2024-05-08T00:00:00","date_gmt":"2024-05-08T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/may-macaus-ggr-likely-to-be-2nd-highest-ytd-china-macro-concerns-still-linger\/"},"modified":"2024-05-08T00:00:00","modified_gmt":"2024-05-08T00:00:00","slug":"may-macaus-ggr-likely-to-be-2nd-highest-ytd-china-macro-concerns-still-linger","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/may-macaus-ggr-likely-to-be-2nd-highest-ytd-china-macro-concerns-still-linger\/","title":{"rendered":"May Macau\u00b4s GGR likely to be 2nd highest YTD, China macro concerns still linger."},"content":{"rendered":"<p align=\"justify\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-family: Arial, serif;\"><span style=\"font-size: large;\"><span lang=\"en-US\">The analysts maintain expectations for moderate GGR growth in 2024, which translates to a conservative valuation stance.<\/span><\/span><\/span><\/span><\/p>\n<p align=\"justify\"><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/feria24\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl.png\" alt=\"\" width=\"100%\" \/><\/p>\n<p align=\"justify\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-family: Arial, serif;\"><span style=\"font-size: large;\"><span lang=\"en-US\">Some travels to Macau initially canceled due to unfavorable weather conditions during the Labour Day Golden Week have been rebooked, leading to a &lsquo;more gradual&rsquo; post-holiday deceleration, brokerage firm Jefferies noted in a recent report.<\/span><\/span><\/span><\/span><\/p>\n<p align=\"justify\">&nbsp;<\/p>\n<p align=\"justify\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-family: Arial, serif;\"><span style=\"font-size: large;\"><span lang=\"en-US\">According <\/span><\/span><\/span><span style=\"font-family: Arial, serif;\"><span style=\"font-size: large;\"><span lang=\"en-US\">to industry sources and checks, Macau&rsquo;s daily average gross gaming revenue (GGR) for the first five days of May was MOP910 million (US$113 million).<\/span><\/span><\/span><\/span><\/p>\n<p align=\"justify\">&nbsp;<\/p>\n<p align=\"justify\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-family: Arial, serif;\"><span style=\"font-size: large;\"><span lang=\"en-US\">The month-to-date mass GGR and VIP segment GGR figures showed a month-on-month increase of 45-50 per cent and 60 per cent, respectively, while VIP win rate rose to 3.3-3.5 per cent.<\/span><\/span><\/span><\/span><\/p>\n<p align=\"justify\">&nbsp;<\/p>\n<p align=\"justify\"><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/international\/may-macaus-ggr-likely-to-be-2nd-highest-ytd-china-macro-concerns-still-linger2.jpg\" alt=\"\" width=\"100%\" name=\"Imagen 2\" align=\"bottom\" border=\"0\" \/><\/p>\n<p align=\"justify\">&nbsp;<\/p>\n<p align=\"justify\">&ldquo;<span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-family: Arial, serif;\"><span style=\"font-size: x-large;\"><span lang=\"en-US\">This is a strong start to the month driven by Labor holiday and was only slightly below the first six days of 2023&rsquo;s October Golden Week of MOP930-940 million\/day,&rdquo; the analysts wrote.<\/span><\/span><\/span><\/span><\/p>\n<p align=\"justify\">&nbsp;<\/p>\n<p align=\"justify\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-family: Arial, serif;\"><span style=\"font-size: large;\"><span lang=\"en-US\">According to industry estimates cited by the brokerage, daily GGR for the rest of the month is expected to slow down to MOP580-650 million. This implies a full-month GGR range of MOP19.6-21.5 billion, translating into a daily run-rate of MOP633-692 million. The analysts said that even at the lower end of the range, the figure would still represent the second highest monthly average daily rate year-to-date.<\/span><\/span><\/span><\/span><\/p>\n<p align=\"justify\">&nbsp;<\/p>\n<p align=\"justify\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-family: Arial, serif;\"><span style=\"font-size: large;\"><span lang=\"en-US\">The brokerage indicated that Macau gaming stocks would continue to be impacted by concerns about China&rsquo;s macroeconomic growth, which could potentially influence future overseas travel.<\/span><\/span><\/span><\/span><\/p>\n<p align=\"justify\">&nbsp;<\/p>\n<p align=\"justify\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The analysts maintain expectations for moderate GGR growth in 2024, which translates to a conservative valuation stance.<\/p>\n","protected":false},"author":1,"featured_media":8713,"menu_order":192,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4535,4533,4534],"class_list":{"0":"post-8712","1":"asia","2":"type-asia","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-analysts-predictions","8":"tag-macau-ggr","9":"tag-prospects","10":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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