Key points:
- Singer Jacky Cheung's concerts credited with boost in visitation and gaming revenue
- June daily GGR reaches MOP 685m (US$85m), matching May levels
- Monthly revenue forecast raised to as high as MOP 20.4bn
Recent concerts by Cantopop legend Jacky Cheung have helped revive Macau’s gaming sector in what is typically a quiet month, with several investment banks upgrading their June revenue forecasts.
As reported by Macao Daily, Cheung’s performances have sparked a notable rise in visitor numbers and gaming activity.
According to investment banks including JPMorgan and UBS, Macau’s gross gaming revenue (GGR) from 15 to 22 June reached a daily average of MOP 685m, in line with May’s figures and well above earlier seasonal expectations.
JPMorgan analysts noted that for the first 22 days of June, total GGR stood at MOP 14.8bn, with daily averages exceeding MOP 670m.
They described the trend as a positive inflection after more than a year of underperformance, adding that the surge was driven by a mix of mass gaming and slot machine segments, both showing strong recovery to approximately 120% of pre-pandemic levels. VIP volumes remained low but steady, with recovery rates at 25–30%.
Good to know: The concerts are part of a six-show series spanning June and early July, and analysts believe the momentum could carry through into next month
Citigroup revised its June revenue forecast from MOP 19bn to MOP 19.7bn to reflect the improved performance. The firm estimated the remainder of June could sustain a daily GGR of around MOP 620m. UBS also pointed to strong numbers from 16 to 22 June, attributing the performance to the concert-driven footfall. Their data shows June’s daily average GGR has declined just 2% from May, compared to a typical seasonal dip of 9% based on 2015–2019 figures.
HSBC offered a similarly optimistic outlook, suggesting that if GGR continues between MOP 620m to MOP 700m per day, the monthly total could reach between MOP 19.7bn to MOP 20.4bn, representing an 11–15% year-on-year increase.
