Macau GGR down 35% in second week of June

Macau GGR was down 35 per cent in the second week of June when compared to May, most likely due to the rise in Covid-19 cases in Guandong province.

Macau.- Sanford C. Bernstein has reported that Macau GGR for the second week of June was down by 24.3 per cent when compared to May.

GGR was MOP219m (US$27.3m). That compares to MOP1.35bn (US$169m) in the first week of June.

Macau’s Gross Gaming Revenue (GGR) in May 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.

However, a rise in Covid-19 cases in neighbouring Guangdong province has led Macau’s government to reimpose Covid-19 countermeasures at casinos and other tourism venues.

People who enter the casinos must wear masks and have their temperature checked. They also have to present the Macao Health Code, the government document that classifies health status by colour: red, yellow, and green.

However, in recent days the number of Covid-19 cases has decreased and authorities have stated that new cases will reach zero by June 20.

Bernstein predicts Macau’s GGR for June will be down 30 per cent month-on-month. They expect a further recovery within July and August during the summer holiday period. Macau’s GGR is usually weak in June when compared to other months.

Morgan Stanley also cut its forecast for Macau gross gaming revenue (GGR) this year by 19 per cent to US$16.3bn.

Previously, it had said Macau GGR could reach MOP189bn (US$23.6bn), about 65 per cent of GGR in 2019. However, it’s lowered its forecast to just 45 per cent of 2019 levels, although that would still be an improvement of 115.4 per cent in 2020.