Cantonese pop king Jacky Cheung's concert series in Macau unexpectedly became a "catalyst" for boosting the gambling industry. In the typically slow month of June, several investment banks observed a rebound in gambling revenues, leading to an upward revision of monthly forecasts. Data shows that from June 15 to 22, Macau's daily average total gambling revenue (GGR) reached 685 million Macau patacas (about 85 million US dollars), on par with May, yet far better than seasonal expectations.
J.P. Morgan analysis indicated that as of June 22, Macau's total gambling revenue had reached 14.8 billion Macau patacas, with a daily average of over 670 million Macau patacas. Mass gaming and slot machine operations were particularly impressive, having recovered to 120% of their pre-pandemic levels; in contrast, VIP rooms are recovering slowly, maintaining only 25%-30% of traffic.
Citi Group has thus raised its June gambling revenue forecast from 19 billion to 19.7 billion Macau patacas; UBS and HSBC also expressed optimism, expecting that if daily revenues remain in the 620 million to 700 million range, total June revenue could reach 20.4 billion Macau patacas, a year-on-year increase of 11%-15%.
The concerts, spanning six shows from June to early July, are believed by analysts to potentially extend their stimulating effect into the next month. This also shows that high-quality entertainment activities are gradually becoming a key force for Macau to attract tourists and break through the seasonal fluctuations of the gambling industry.
