JP Morgan’s DS Kim, Derek Choi and Livy Lyu described GGR figures for the holiday period said May’s Golden Week figures were “broadly satisfactory” with daily revenues “reflecting pent-up demand.”
Attendance remained down at around a quarter of 2019’s May Golden Week figures but revenue was up to 50 percent with mass gaming recovering to between 60 and 70 percent for mass GGR compared with 20% to 25% for VIP.
The JP Morgan analysts said: “Weekly GGR data from industry consultants is scheduled to come out on Monday for the first nine days of May.”
“The data will encompass both holiday (May 1-5) and seasonal lull (May 6-9), hence will likely come in at US$41.2m to US$47.5m per day,” they added.
“This in turn suggests May should be able to print GGR of US$1.2bn-plus, a tad better than consensus expectations,” the analysts concluded.
Source: GMB / G3
