Macau’s GGR was up 55 per cent week-on-week after a rebound in tourist arrivals.
Macau.- Sanford C. Bernstein Ltd has reported that Macau’s Gross Gaming Revenue (GGR) for the third week of August was MOP120m (US$15.0m), up 55 per cent when compared to the previous week, when GGR was MOP78m(US$9.7m).
Despite the rebound, the figure is still low due to a community outbreak of Covid-19 during the first week of August.
Analysts said: “The past week’s GGR recovered as the travel impediments caused by Macau’s recent local Covid cases have begun to be gradually relaxed.”
They noted that China is slowly reducing travel restrictions in some areas after appearing to pass the peak of the most recent Covid-19 outbreak.
Macau’s Public Security Police reported Macau’s visitor arrivals between August 14 to 18 were up 168 per cent when compared to the previous week.
Macau’s GGR for the first 22 days of August was MOP2.4bn. The month-to-date average daily rate is MOP109m, down 86 per cent when compared to August 2019 levels and down 60 per cent compared to July’s figures.
Analysts expected Macau’s GGR for August to be down 60 per cent when compared to August 2019 and down 30 per cent when compared to July 2021. However, after a rise in Covid-19 cases, it looks likely to be down 80 per cent from August 2019 and down 50 per cent compared to last month.