Macau GGR drops to US$187.8m in first week of February

Revenues declined against January following the usual pattern before the Chinese New Year holiday period.

Macau.- Macau casino revenues declined month-on-month in the first week of February.

According to analysts, the month-to-date average daily rate (ADR) was down 76 per cent compared to February 2019 and down 17 per cent compared to January 2021.

January saw the best results in 12 months, with GGR of MOP8bn, surpassing the months of Golden Week and the Christmas holiday periods.

Although China advised citizens against travel, senior executives at some Macau casino operators are optimistic about tourism for the upcoming week-long Chinese New Year holiday.

Macau still hoping for a quick recovery

JP Morgan’s analysts predict Covid-19 vaccination in China could help Macau’s recovery in the mass gaming segment from May, in time for the Labour Day break, May Golden Week.

Analysts predict Macau’s monthly GGR will start to improve from May to between MOP350m [US$43.8m] and MOP370m per day (about 45 per cent of the 2019 GGR run rate).

According to JP Morgan, a complete recovery will be reached in 2022.