Macau GGR down 57% in third week of February

Macau’s GGR for the third week of February was down 57 per cent week-on-week mainly due to the seasonal drop after the Chinese New Year holiday.

Macau.- Sanford C. Bernstein Ltd has reported that Macau’s gross gaming revenue (GGR) for the third week of February was down 57 per cent when compared to the previous week. That was largely to be expected due to the seasonal drop after the Chinese New Year holiday but also new restrictions related to the Covid-19 pandemic.

Month-to-date GGR stands at MOP6.3bn (US$783m), down 65 per cent when compared to pre-pandemic levels, with average daily revenue of MO315m. However, the figure is up 21 per cent when compared to February 2021. VIP average daily GGR was up 70 per cent month-on-month and mass GGR 50 per cent.

Macau’s health authorities have decided to keep the current 48-hour validity period for negative Covid-19 tests for tourists entering Macau from Guangdong. Visitors from other cities in mainland China need only a negative test within the past 7 days. The city has also stepped up Covid-19 measures for visitors from Hong Kong.

According to analysts at Bernstein, Macau’s GGR for February will be down 68 per cent when compared to pre-pandemic levels and up 29 per cent month-on-month. Macau reported gross gambling revenue of MOP6.34bn (US$793m) for January, down 20.3 per cent month-on-month.