“The agency’s GGR estimate for the first five days of the month, based on checks, includes a period that includes a ‘slight rise in tail demand’ after the Spring Festival holiday,” analyst DSkim said in an update. He added that this demand appears to have helped the high-end mass market and VIP sectors more than the general public sector. 파친코
The analyst added that among Macau’s early February GGR estimates, “the market may want to monitor trends for weeks to gain confidence in the “sustainability” level related to strong January/Lunar New Year printing, but we believe the printing [GGR performance] is better than expected.”
Macau’s casino GGR reached 11.58 billion MOPs, or 374 million MOPs per day, in January. The Lunar New Year holiday period in mainland China was from January 21 to January 27.
The JPMorgan memo noted that the estimated GGR figures for the first five days of the month suggest that the bulk GGR has recovered to “70% from 65% of pre-COVID levels.”
“Given the operating cost burden of Grand Lisboa Palace at this level, all operators except SJM [Holdings Inc.] should already be printing positive free cash flows comfortably,” Kim said. This important milestone will be confirmed later with Q1 results,” he added