Macau’s GGR for the second week of March was down 37 per cent week-on-week mainly due to the rise in Covid-19 cases in mainland China.
Macau.- Sanford C. Bernstein Ltd has reported that Macau’s gross gaming revenue (GGR) for the second week of March was down 37 per cent when compared to the previous week. Analysts attributed the fall to new restrictions related to the Covid-19 pandemic due to the rise in cases in the neighbouring province of Guangdong.
The average daily rate during the second week of March declined to MOP114m (US$14.1m). Month-to-date GGR is MOP146m (US$18m), down 55 per cent year-on-year and down 15 per cent when compared to pre-pandemic levels.
Between March 3 to 9, the average daily travel in and out of Macau was down 41 per cent from 52,500 to 31,200 week-on-week.
Casino share prices were down yesterday due to the new Covid-19 measures. SJM Holdings Ltd fell 10 per cent to HK$3.28 (US$0.42) which represents its biggest one-day percentage drop in six months. Sands China fell 9.2 per cent while Melco International Development Ltd. shares fell 9.1 per cent.