Macau GGR down 18% in the second week of November
Macau’s GGR for the second week of November was down 18 per cent when compared to the previous week, from an average daily revenue of MOP235m (US$29.3m) to MOP194m (US$24.1m).
Macau.- Sanford C. Bernstein Ltd has reported that Macau’s gross gaming revenue (GGR) for the second week of November was down 18 per cent when compared to the previous week, mainly due to “very low” VIP hold. Analysts revealed the city recorded an average daily revenue of MOP194m (US$24.1m) while in the previous week the figure was MOP235m (US$29.3m).
Macau’s GGR for November stands at MOP3bn (US$374m), with an average daily rate of MOP214m (US$26.6m), down 72 per cent when compared to pre-pandemic levels. However, the figure is up 52 per cent when compared to October.
October saw the lowest monthly GGR of 2021, down 25.8 per cent month-on-month and 40 per cent year-on-year, due to an outbreak of Covid-19 cases that deeply affected the October Golden Week.
Analysts at Sanford C. Bernstein Ltd said VIP hold was down 1.5 per cent during the second week of November. The average daily rolling volume was up 80 per cent when compared to the previous month, while daily mass was up 50 per cent.
Bernstein predicts Macau’s GGR in October will be down 60 per cent when compared to 2019 levels although recovery will continue in the following months. Morgan Stanley Asia Ltd has recently forecasted that November GGR will be up 57 per cent month-on-month from MOP4.37bn (US$544m) to MOP6.9bn (US$860.9m) but down 30 per cent when compared to November 2019.
Macau casino operators property EBITDA down 97% for Q3
Deutsche Bank has said Macau’s casino operators economic status declined during the third quarter when compared to the previous period when EBITDA was down 83 per cent from the 2019 levels.
It said that Las Vegas Sands, Galaxy Entertainment and Melco Resorts all gained in their EBITDA market share during the third quarter to the detriment of SJM Holdings and Wynn Resorts.
As regards gross gaming revenue (GGR) in Macau, Las Vegas Sands and Galaxy Entertainment Group continued leading the market share over Melco Resorts & Entertainment, Wynn Macau and SHM Holdings.
