Macau GGR up 16% in second week of April

Macau GGR up 16% in second week of April

Analysts have reported that Macau’s gross gambling revenue reached a daily average of US$36.2m.

Macau.- Sanford C. Bernstein has reported that Macau casinos saw gross gaming revenues of MOP290m (US$36.2m) per day during the second week of April, up 16 per cent from the previous week.

During the first six days of April Macau registered gross gaming revenues of MOP$250m (US$31m).

However, analysts expect April GGR will remain down by 60 per cent compared to April 2019, before the Covid-19 pandemic. 

Like Morgan Stanley, Bernstein expects GGR will rise during the first quarter of the year to nearly US$3bn, an 8 per cent increase, thanks to the mass segment. It expects strong GGR improvement to begin in the second half of the year.

Analysts believe that an easing of Covid-19 restrictions, vaccine expansion and economic growth will allow for a consistent GGR improvement.

Macau seeks mutual recognition of vaccination certificates with Guangdong province

Macau is in talks with mainland Chinese authorities on the possibility of mutual recognition of vaccination certificates between Macau and the province of Guangdong as it seeks to gain more tourist arrivals.

The Macau Government Tourism Office reported 99,568 tourists visited Macau during the first week of April but numbers are still a long way from pre-pandemic levels.

Macau’s Chief Executive Ho Iat Seng said: “! mutual recognition of nucleic acid tests or vaccination could contribute positively for tourism mobility.”

A negative Covid-19 test result is no longer needed to enter Macau’s casinos. Players can now stand at gaming tables.

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