In June GGR Macau will increase - analysts
Investment analysts forecast that, despite the drop that was observed in May, in the current month the gross of the casino in Macau (GGR) will grow. Also the growth of GGR, which expected in June, will be supported by the growth of incomes in the mass market segment.
"According to our tests, GGR for the first 10 days of June is estimated at about 8.5 billion patacs ($ 1.05 billion), which is about 850 million patacs a day. This is more than in May - 822 million patacs a day. This was facilitated by two full days off within 10 days", - analyst Sean Zhuang commented.
The GGR casino index in Macau increased by 12.1% in May, reaching almost 25.49 billion patacas, according to official data.
The JP Morgan team said that its own checks indicate that mass demand appears to have increased by more than 20% compared to the previous year, without showing signs of slowing, despite the recent UnionPay problem.
Analysts also added: "The volume of VIP in June fell slightly compared to the previous month, its performance is within the typical volatility. Large junket operators were able to fix a perfectly normal profitability from the very beginning, recovering from the negative indicators in May."
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