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[Travel News]: Macau gross gaming revenue back to 50% of pre-COVID levels in Golden Week: JP Morgan

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The following is the [Travel News]: Macau gross gaming revenue back to 50% of pre-COVID levels in Golden Week: JP Morgan from [IAG] recommended by TheTourAttraction.com:

Macau’s gaming operators recorded their best week since the earliest days of 2020 during May Golden Week.

Macau’s gaming operators recorded their best week since the earliest days of 2020 during May Golden Week, with gross gaming revenues (GGR) clawing back to around 50% of pre-COVID-19 levels according to JP Morgan analysts.

In a Thursday note, JP Morgan’s DS Kim, Derek Choi and Livy Lyu described GGR figures for the holiday period as “broadly satisfactory” – led by a resurgence in the mass segment.

While visitation only reached around 25% of 2019 May Golden Week levels, GGR was between 40% and 50% including a recovery to between 60% and 70% for mass GGR compared with 20% to 25% for VIP.

Luxury retail sales were back to pre-COVID-19 levels, with some tenants seeing double digit growth over 2019 Golden Week.

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