Deutsche Bank predicts $2.96bn in Q2 GGR for Macau


Deutsche Bank predicts $2.96bn in Q2 GGR for Macau

Deutsche Bank has predicted Macau’s GGR for the second quarter will reach $2.96bn, a 32% drop from the $4.39bn that was previously predicted for the three months until 30 June.

The adjusted figures would still be a 635% boost compared to the $404.8m recorded for Q2 in 2020.

The firm forecasts that mass-market GGR for Q2 will be $2.15bn, an 895% year-on-year improvement. VIP GGR should be $820.8m, a 336% growth.

Full-year GGR should reach $19.29bn, up 155% year-on-year, but 18% lower than the previously predicted $23.44bn.

Macau’s GGR for Q1 was MOP23.64bn ($2.95m), a 23% year-on-year decline from MOP30.49bn, yet it was still an 8% increase compared to Q4 2020.

The fluctuating figures can be attributed to the ongoing Covid-19 pandemic, as last year Macau saw many casinos temporarily shut down, while international travel was also affected.

However, since February 2021, travel between Macau and mainland China no longer requires a two-week quarantine, which should be beneficial for the casinos in the region.

Last week, during the Qingming holiday, more than 168,000 visitors traveled to and from Macau, with 28,000 of them being tourists.

And with China’s newly approved ban on cross-border gambling, it’s likely Macau will see a boost to its casino industry.