Macau GGR on the up in January

GGR is up compared to December.
GGR is up compared to December.

According to Bernstein analysts the first 10 days of the month have shown growth compared to December.

Macau.- The first week of the year has shown somewhat encouraging financial results for the gaming business in Macau. According to brokerage Bernstein, GGR grew by 13 per cent month-on-month in the first 10 days of January.

Analysts Vitaly Umansky, Tianjiao Yu and Kelsey Zhu estimated GGR of MOP$2.85bn (US$356.3m), that’s MOP$285m (US$35.6m) per day between January 1 and 10, up from an average of MOP$252m per day in December 2020.

Macau’s Gaming Inspection and Coordination Bureau reported GGR of MOP$7.82bn (US$977.5m) in December, down 65.8 per cent year-on-year but the highest total since January 2020.

The current 10-day estimate represents a 68 per cent decline against the same period last year and a 60 per cent drop on January 2020 as a whole. VIP revenue was down in the mid-70 per cent range and mass market revenue down by just over 60 per cent.

Based on the current trend, GGR for January 2021 is likely to remain down by “low-to-mid 60 per cent ” year-on-year according to Bernstein.

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