Macau: no signs of gaming revenue recovery in December

Casinos have seen no recovery in gaming revenues yet.
Casinos have seen no recovery in gaming revenues yet.

According to a report from Sanford C. Bernstein, the SAR is not yet seeing any increase in revenues this month.

Macau.- The first week of December has not brought any increase in gaming revenues in Macau, according to Sanford C. Bernstein.

The brokerage reports that revenues remain “soft” with average daily revenues from December 1 to 6 trending at MOP200m, down 72 per cent on the same period last year and down 11 per cent on last month.

Month-to-date VIP gaming volume is estimated to be 80 per cent lower than the same period last year, with lower than normal win rates. Mass gaming is estimated at 60 per cent lower.

December is expected to finish with gaming revenues 60 to 70 per cent lower than last year depending on visitation and the issuing of visas.

The brokerage forecast: “The key jump in visitors will come when visa processing becomes the same day and e-kiosk again.”

Analysts do not expect to see the opening of borders with Hong Kong anytime soon due to another rebound in Covid-19 cases in the city.

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