Macau GGR falls to lowest average daily rate since January

Macau’s GGR for the third week of March was down 13 per cent week-on-week.

Macau.- Sanford C. Bernstein Ltd has reported that Macau’s gross gaming revenue (GGR) for the third week of March was down 13 per cent week-on-week to MOP100m (US$12.4m). Analysts say that equates to the lowest average daily rate since January.

The fall was mainly due to a new rise of Covid-19 cases in the neighbouring province of Guangdong, which led authorities to tighten countermeasures. Month-to-date GGR is MOP2.6bn (US$323m), down 51 per cent year-on-year and down 84 per cent when compared to pre-pandemic levels. The daily average for the month to date is MOP130m (US$16m).

Analysts predicted Macau’s GGR for March will be down 86 per cent compared with pre-pandemic levels and warned the figure could be even lower if further restrictions are imposed.

A week ago, analysts at investment bank Citi predicted that Macau’s gross gaming revenue (GGR) for March would be down 42 per cent when compared to February at around MOP4.5bn (US$558.5m).