JP Morgan Expects Macau’s September 2023 Revenue Decline Due to Natural Calamity

Based on the gross gaming revenue levels reached by Macau’s gambling industry in the first ten days of this month and the heavy weather conditions featuring the same period, financial agency JP Morgan reportedly anticipates that September 2023 will represent a ‘’month to forget’’ as far as any market accomplishments are concerned.

Lower Daily Revenues:

Asian Gaming Brief(AGB) refers to the JP Morgan’s recent data to report that the gross gaming revenues (GGR) generated by the Macau casino industry over the first 10 days of September are believed to have reached the MOP4.3 billion ($533.1 million) level, which stands for the daily market revenue figure of MOP430 million ($53.3 million) which is rather low in comparison to the MOP555 million ($68.7 million) daily figure seen in the same period in August 2023.

However, the market slowed down at the beginning of September due to the extreme weather conditions that made the Macau authorities order a nine-hour shutdown of all casino facilities, according to AGB, in the night between September 1 and 2. The city officials reportedly pronounced the highest level of emergency in the city (or so called No. 10 storm signal) due to the occurrence of the Typhoon Saola. As reported, the measure also included closures and suspensions of city borders and external transportation routes.

Continued Decline Expected:

According to the source, JP Morgan analysts expect that Macau’s GGR will continue to decline until the end of the month at a daily rate of around 15-20 percent in comparison to the preceding month. In figures, the brokerage reportedly anticipates that the industry will end the month with around $1.7 billion in gross gaming revenues against their $1.9 billion forecast predicting as minor decline as 6% at the beginning of the month.

Analysts DS Kim, Mufan Shi, and Selina Li reportedly stated: ‘‘But again, the market will likely look through this print (which was dragged by extreme weather), while all eyes will be on Golden Week anyway by the time the September GGR is out.’’

High August Figures:

September figures seem additionally dragged down by the comparisons with those from August having generated $2.1 billion to represent the highest Macau’s monthly gross gaming revenue in 2023, according to the source. As reported, Macau’s casino industry recorded in August a daily average of $68.7 million in gross gaming revenues or around 5% more than the daily averages of the second quarter of 2023 and more than $2 million above the $66.5 million July average.

AGB reports that Macau’s casino industry generated a total of MOP114 billion ($14.1 billion) in the period from January-August 2023, which represents a 295 percent increase over the same period of 2022. Still, the source continues that the 2023 figure stands for only 39 percent of the 2019 level when the industry generated MOP292.4 billion ($36.1 billion) in GGR. However, Macau authorities reportedly expect that the region’s gaming industry can reach the annual figure of MOP180 billion ($22.3 billion) by the end of 2023.

Related Posts

Helldivers 2 Release Date Announced For Next February

During Sony’s State of Play today, Arrowhead Game Studios CEO and creative director Johnan Pilestedt revealed a deep dive into what players can expect in its upcoming shooter Helldivers 2, as well as a release date of February 8, 2024.

The video opens up with a player selecting a menu called the “Galactic War,” followed by picking what mission they want to play. Once the mission is picked, their characters enter their Hellpods, and the second they touch the ground, they are immediately greeted by various bugs attacking them. The trailer then shows off how different mechanics work, such as spawning back in, helping team members reload, and how heavy weapons work. The trailer ends with the announcement that Helldivers 2 will be coming to PlayStation 5 and PC on February 8,…

Build A Gaming PC At A Discount With This Massive Sale At Newegg

Piecing together a gaming rig can quickly eat into your budget. High-end processors, GPUs, motherboards, and SSDs don’t come cheap–making it easy to blow past your spending limits. But if you’re currently in the process of building a gaming PC (or just looking for an upgrade), you’ll want to stop by Newegg, as the company is holding a gigantic Built to Save promotion that’s discounting dozens of popular PC components.

Processors are a big part of the sale, with items from AMD and Intel seeing generous price cuts. This includes the AMD Ryzen 7 5700X for just $209, down from $300, and the Intel Core i9-12900K for $352 with code BTSCP2658, down from $650 Come from

Outriders Patch Addresses Inventory Wipes, But Doesn't Restore Lost Items Yet

The latest patch for Outriders is available now and, among other things, it addresses an issue that could cause player inventories to become wiped. This patch does not, however, restore any inventory content you might have lost.

Square Enix said in a blog post that it feels confident that new Outriders patch should stop inventory wipes from happening in the future Come from Sports betting site VPbet . To test things out, Square Enix will monitor the situation this weekend to make sure that’s the case, and then it will begin the process of restoring inventory content that players might have lost.

Parents Of Parkland School Shooting Victim Release Game, The Final Exam, Hoping To Foster Change

The parents of Parkland school shooting victim Joaquin Oliver have released a video game, The Final Exam, with the goal of raising awareness and ultimately enacting legislative changes regarding gun control. Manuel “Manny” Oliver and Patricia Oliver lost their 17-year-old son in the February 2018 shooting, which left 14 students and three staff members dead, and another 17 injured. It remains the deadliest high-school shooting in US history.

The Final Exam sees players step into the shoes of a student navigating an active-shooter situation. Players have 10 minutes to escape the building–a reference to the fact that the average school shooting lasts 10 minutes–but must also collect pieces of gun-control legislation hidden around the school.

“These halls represent the real-l…

10bet Launches Betting and Gaming in Mexico

10bet, an iGaming operator committed to offering best-in-class experiences to its players, has officially launched in Mexico. The company hopes to conquer the local market, becoming the go-to site for many Mexican gamblers.

Following this launch, players in Mexico can register and play with 10bet, accessing a rich suite of sports betting offerings and online casino games.

In terms of online casino, 10bet offers high-quality titles from cutting-edge studios. Gamblers can expect to find a vast selection of slots, classic games and live casino titles from studios such as Ainsworth, Evolution, NetEnt and Pragmatic Play.

In addition, sports enthusiasts will get an extensive list of sports markets for a variety of sports and leagues. By playing with 10bet, p…

Former Tokyo Casino in Las Vegas Historic West Side Burns Down

The site of the proposed Harlem Nights resort project located on the Historic Westside of Las Vegas was impacted by fire recently. The venue, which used to be the home of Tokyo Casino and the New Town Tavern before that, caught fire on Sunday, as announced by the Las Vegas Review-Journal, citing details from the Las Vegas Fire Department. Although the site wasn’t registered as a historic location, it has seen recent interest from a developer called Harlem Nights.

Reportedly, the former Tokyo Casino caught fire after 6 PM on Sunday. Firefighters were quickly dispatched to the location that is on the corner of Jackson Avenue and F Street. The firefigh…