Macau GGR up 120% between August 8 and 14
Macau recorded daily casino gross gaming revenue of MOP79m (US$9.8m) for the week ending August 14.
Macau.- Sanford C. Bernstein Ltd has reported that Macau’s gross gaming revenue for the week ending August 14 was up 120 per cent when compared to the average daily rate in the first week of the month (MOP36m).
According to analysts, total gaming revenue for August stands at approximately MOP800m (US$99m), which is just 7 per cent of what was reported in August 2019 before the epidemic.
The recovery in GGR terms comes after an easing of restrictions on inbound and outbound travel earlier in August. However, Sanford C. Bernstein pointed out: “The pace of gross gaming revenue recovery is still uncertain due to the remaining travel restrictions across feeder Chinese provinces, risks of Covid-19 infection resurgence, and (prolonged) stringent 24-hour Covid-19 test validity to cross the border with China.”
Sanford Bernstein expects Macau’s average daily GGR for August to be up 549 per cent month-over-month. However, it said results “could still be lower” if new Covid-19 outbreaks occur in Macau or mainland China.
In July, GGR was down 83.9 per cent month-on-month from MOP2.48bn to MOP398m (US$49.2m). The figure was down 95.3 per cent when compared to July 2021. It was the lowest GGR since 2003 when city authorities began publishing monthly figures. Macau’s GGR for the first seven months of 2022 combined stands at MOP26.6bn (US$3.29bn), down 53.6 per cent year-on-year.
Since August 9, nucleic acid tests (NATs) have been required upon arrival and again after two days for visitors who arrive directly by air or sea from mainland China. Those arriving from Zhuhai must hold a negative Covid-19 result issued in the last 48 hours. People flying or sailing from anywhere else on the mainland will need a test certificate issued no more than seven days before departure.
The Macau Novel Coronavirus Response and Coordination Center said that it adopted the new Covid-19 testing rules in response to “changes in the mainland’s pandemic situation.”
