Macau GGR may reach only 15% of 2019 levels in June, analysts say
Gross gaming revenue was down 23 per cent week-on-week from June 6 to June 12.
Macau.- Sanford C. Bernstein Ltd has reported that gross gaming revenue (GGR) in Macau may now only reach 15 per cent of 2019 levels. It says that GGR was down 23 per cent week-on-week between June 6 to June 12.
Last week saw daily casino gross gaming revenue of MOP93m down from MOP120m (US$14.8m) the previous week. According to analysts at Bernstein, GGR for the month to date is down 87 per cent when compared to last year and down 3 per cent month-on-month.
They say that if the number of visitors does not increase in the remainder of the month, Macau’s GGR will reach just 15 per cent of June 2019’s MOP23.81bn (US$2.95bn).
Macau has announced a relaxation of Covid-19 measures, however checks on frequent players by Chinese authorities are another possible cause of the downturn.
Macau’s gross gaming revenue in May was up 2.8 per cent when compared to April. It rose from MOP2.68bn (US$331m) in April to MOP3.34bn (US$413.4m) but was down 68 per cent when compared to May 2021 (MOP10.45bn).
Macau to revise GGR forecast for 2022
As previously reported by Focus Gaming News, Macau’s chief executive Ho Iat Seng has said that a new GGR forecast will be announced in the second half of the year as part of an amendment to Macau’s 2022 fiscal budget plan.
In November, authorities had predicted that GGR for 2022 would reach MOP130bn (US$16.2bn). However, they have been forced to modify that forecast due to the impact of the resurgence of Covid-19 cases in mainland China in the first half of the year.
