Macau GGR down 24% in third week of June
Macau’s GGR was down 24 per cent when compared to the previous week and 51 per cent from May, mainly due to restrictions in the Guangdong province after a rise in Covid-19 cases.
Macau.- Sanford C. Bernstein has reported that Macau GGR for the third week of June was down by 24 per cent when compared to the previous week.
Macau’s GGR was also down 51 per cent from May 2021, when it reached MOP10.45bn (US$1.31bn), fueled by the Labour Day break, when Macau’s Public Security Police reported that 165,500 tourists came to Macau.
According to analysts, Macau’ daily GGR between June 1 and June 20 was MOP205m (US$25.6m), down 39 per cent from May levels.
Analysts also noted VIP volume was down 40 per cent month-on-month in average daily rolling volume while average daily mass GGR was down 32 per cent when compared to May.
Macau tightened restrictions and imposed quarantine measures for arrivals from Guangdong after new Covid-19 cases emerged.
The government announced those who had been in Guangzhou or Foshan within the previous 14 days are required to undergo a nucleic acid test. From June 8, people who want to enter Macau from Guandong must show a Covid-19 negative test issued within 48 hours.
The news was received with some unease from the tourism sector. Mainland China is the only country to have a largely quarantine-free travel bubble with Macau, and the majority of tourists who have come to the city in recent months are from Guandong.
Due to this situation, Sanford C. Bernstein predicted GGR for June will be down 30 per cent month-on-month. However, they expect a further recovery within July and August during the summer holiday period.
In recent days Macau relaxed restrictions in Shenzhen city and Maoming city in mainland China’s Guangdong province.
People coming from Shenzhen city and Maoming city no longer need to undergo a 14-day quarantine. However, authorities warned Macau residents to avoid travelling to the cities of Guangzhou and Foshan, where Covid-19 cases remain high.
