Macau GGR down 3% in the third week of December
Macau’s GGR for the third week of December was down 3 per cent week-on-week from MOP229m (US$28.5m) to MOP221m (US$27.5m).
Macau.- Sanford C. Bernstein Ltd has reported that Macau’s gross gaming revenue (GGR) for the third week of December declined 3 per cent when compared to the previous week. According to analysts, the decline was mainly due to a new outbreak of Covid-19 cases across China, especially in the neighbouring province of Guangdong.
The average daily rate between December 13 to 19 was MOP221m (US$27.5m). Month-to-date GGR was MOP4.45bn (US$550m), down 68 per cent when compared to pre-pandemic levels but up 4 per cent month-on-month.
VIP holdings were below the normal range, while rolling volumes fell by 40 per cent to 45 per cent as more junkets closed for business after the arrest of Alvin Chau Cheok Wa, Suncity Group’s CEO.
A week ago, analysts at Morgan Stanley predicted gaming concessionaires would terminate their agreements with junkets, effectively ending the industry in the city even if the authorities have not formally ordered a ban.
So far this month, mass-market revenues have increased by 10 per cent when compared to the previous month. Bernstein predicts that the overall GGR in December will be 68 per cent lower than in 2019 and 7 per cent higher than last month, mainly due to an increase in mass table revenue.
