Brokerage JP Morgan Securities (Asia Pacific), citing its own check, said Macau's gross gaming revenue (GGR) was estimated at 4.5 billion MOPs ($556.7 million) in the first seven days of May.

That's more than 640 million daily MOPs, well above the 490 million MOPs achieved in April, daily "let alone 385 million MOPs" in the first quarter of this year, according to analysts DS Kim and Mufan Shi's Monday memo. 파칭코

The two said the Macau GGR figure "looks great despite frustratingly weak stock momentum."

It was a reference to the recent retreat in shares of Macau game concessions.

The first three days of May were part of a five-day break in mainland China that began on April 29 and covered Labor Day on May 1.

JPMorgan estimates daily casino GGRs have halved to 900 million MOPs in the remaining four days through May 7 during the holiday season.

Overall, this indicates bulk market gambling demand has recovered to "at least 90% of pre-COVID levels during the holiday, if not more than 100%," according to JPMorgan analysts' estimates from the agency, which was "well above 65%" in the first quarter.