Macau GGR up 11% in first week of June

Macau’s GGR was up 11 per cent when compared to the average recorded for all of May.

Macau.- Sanford C. Bernstein Ltd has reported that gross gaming revenue in Macau was up 11 per cent for the first five days of June. According to the brokerage, the city recorded daily casino gross gaming revenue of MOP120m (US$14.8m). However, the month-to-date daily average was down 45 per cent year-on-year.

According to analysts, the increase in daily revenue was mainly due to a relaxation in Covid-19 measures and a holiday weekend in Macau. Analysts said VIP volume and mass GGR marginally improved from May 2022, with a normal VIP hold rate. 

Sanford Bernstein forecasts that the average daily rate for June GGR may be up 46 per cent when compared to May but pointed out the result could be lower if travel does not pick up during the month.

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).

Analysts attributed the month-on-month growth to China’s Labour Day break, which saw 136,647 people visit Macau. 

Macau to ease Covid-19 test requirements from June 2

Authorities in Macau have announced a relaxation in entry requirements. From midnight on June 2, those who want to enter Macau from mainland China’s Guangdong province can do so if they present a negative Covid-19 test issued within the previous seven days.

The change was made due to a drop in the number of Covid-19 cases in neighbouring provinces.