Macau GGR down 9% in the first week of January

Macau’s GGR for the first week of January was down 9 per cent week-on-week with average daily revenue of MOP266m (US$33.3m).

Macau.- Sanford C. Bernstein Ltd has reported that Macau’s gross gaming revenue (GGR) for the first week of January declined 9 per cent when compared to the last week of December.

Despite the decline, analysts remarked the city is recording a good number of bookings for Chinese New Year.

The average daily rate between January 1 to 6 was MOP266m (US$33.3m). Month-to-date GGR is MOP2.4bn, down 67 per cent when compared to pre-pandemic levels but up 4 per cent month-on-month and 3 per cent when compared to January 2021.

Analysts at Bernstein also revealed that mass-market revenues during this period were strong, with an increase of 10 per cent to 15 per cent compared to December last year, although revenue from VIP services was weak as junkets continued to reduce their business. 

VIP transaction volume has fallen by 50 per cent so far this month, and in December it fell by 40 per cent to 45 per cent. It says that most VIP events are direct.

The period before Chinese New Year is traditionally slow, so Bernstein expects January’s GGR to fall by 70 per cent from 2019 levels. 

However, it stated that some operators reported strong forward bookings for the holidays from January 31 to February 3.

Macau’s indoor venues to require vaccination proof for admission

Elsie Ao Ieong U, Macau’s Secretary for Social Affairs and Culture, has announced authorities are analysing the possibility of requiring proof of Covid-19 vaccination or a negative Covid-19 nucleic acid test result for admission to indoor venues.

The measure will be for places such as restaurants but it is still unknown if casinos will be affected by the rule.

Last November, casino operators announced a rise in vaccination rates among workers in Macau with the majority reaching rates of more than 90 per cent.

As of now, about 63 per cent of the city’s population have been fully vaccinated, according to the Ministry of Health.