Macau GGR could be up 70% in September, analysts say
As ever that depends on there being no major Covid-19 outbreaks in China.
Macau.- Sanford C. Bernstein Ltd has reported that Macau recorded MOP88m in daily gross gambling revenue for the first week of September. That was up 12 per cent when compared to the previous week.
Based on the figures, analysts now forecast Macau’s GGR for September could be up 70 per cent when compared to last month and down 83 per cent versus pre-pandemic levels. As ever, analysts pointed out that revenue “could be lower if China Covid-19 outbreaks further hurt travel sentiment and visitation into Macau does not pick up.”
Macau reopened borders to overseas arrivals from September 1, allowing entry to citizens from 41 countries. The list includes Japan, South Korea, Singapore, Malaysia, Thailand, Australia, and the United States. Previously, only people coming from Portugal and mainland china had been able to visit as tourists.
Wong Weng Man, acting chief of the Health Promotion Division of the Health Bureau has said the list will slowly be expanded in phases to cover visitors of other nationalities. He said Macau would reopen gradually to travellers from countries that meet health authorities’ criteria.
From August 1 to 31, Macau saw an average of 21,200 daily visits, a 30-fold increase from the July average of 687 visits. That figure is still 63 per cent below May 2021, the best performing month since the start of the Covid-19 pandemic with an average of 57,000 daily visitors.
