Macau average daily revenue up 3% last week

Macau registered a daily revenue of MOP100m in the week to April 10th, up 3 per cent compared with the prior week.

Macau.- Sanford C. Bernstein Ltd has reported that average daily sales in Macau reached MOP100m in the week ended April 10 week-on-week. That’s a 3 per cent increase on the previous week, but still down 16 per cent when compared to March.

VIP transaction volume was down a mid-to-high 20 per cent compared to March, maintaining a normal rate. Daily mass GGR is down around ten per cent compared to the previous month.

Month-to-date gross gaming revenue was MOP1bn (US$123m), down 87 per cent from pre-pandemic levels and down 64 per cent from a year earlier. Analysts predict full-month GGR will be down 86 per cent from 2019 levels, although it could be weaker if travel restrictions are tightened further due to the increasing Covid-19 cases in China.

GGR from Macau casinos was down 52.7 per cent month-on-month in March, from MOP7.76bn (US$963.8m) to MOP3.67bn (US$454.5m). The figure was the lowest since September 2020, when the tally was MOP2.2bn, and was down 55.8 per cent when compared to March 2021, when revenue was MOP$8.3bn (US$1.04bn).

Macau GGR to reach 44% of pre-pandemic levels in 2022, analysts say

Fitch Ratings expects Macau’s gross gaming revenue (GGR) to be about 44 per cent of pre-pandemic levels this year. Analysts expect the city could see revenue of MOP129bn in 2022. In 2019, Macau’s casinos grossed MOP292.46bm (US$36.5bn).

Fitch also forecast Macau’s economy to grow by 19 per cent in 2022, based on the assumed GGR.

Sanford C. Bernstein Ltd has previously come to a similar conclusion, predicting that Macau’s GGR could recover 47 per cent year-over-year in 2022 to around 44 per cent of pre-pandemic levels seen in 2019.