Macao is projected to earn US$29 billion in gross gaming revenue (GGR) this year, according to multiple media publications, which cited recent data from financial firm Goldman Sachs.
The GGR forecast is equivalent to 82 percent of the annual revenue that was made prior to the outbreak of Covid in early 2020.
Goldman Sachs also predicted that the SAR’s GGR may experience year-on-year growth of 14 percent during the last six months of this year, with the GGR run-rate reaching US$79.4 million per day.
[See more: Macao’s full-year gross gaming revenue could reach nearly US$30 billion]
The financial firm mentioned a number of factors that have led to a short-term drop in Macao’s GGR, including the April-May economic downturn, as well as competition from football betting for Euro 2024.
The city’s property earnings before interest, taxes, depreciation and amortisation (EBITDA) are meanwhile predicted to fall by 4 percent during the second quarter of this year, as a result of the GGR recorded in June, which was the lowest in 7 months.
The annual GGR forecast by Goldman Sachs is lower than the figure announced earlier by brokerage firm CLSA, which predicted a GGR of US$29.8 billion for the year. The Macao government predicts a more modest US$26.9 billion.
