The recovery process continues in Macau as gaming operators have recorded their best week since the early days in 2020 during Golden Week this month. Gross gaming revenues came in at around 50% of the levels the region saw before the COVID-19 pandemic. JP Morgan analysts provided insight into the recovery, noting that the figures are ‘broadly satisfactory.”
Golden Week Growth
In a recent note, JP Morgan analysts Derek Choi, DS Kim, and Livy Lyu, stated the higher numbers in Macau were due to an increase in the mass segment. Visitation levels during Golden Week this year reached only 25% of the same totals from May 2019. However, the GGR was higher, at between 40 to 50% from the same time frame.