Macau GGR up 6% for second week of July

Macau’s GGR in the second week of July was up 6 per cent when compared to the previous week.

Macau.- Sanford C. Bernstein has reported that Macau GGR during the second week of July was up 6 per cent when compared to the previous week.

Analysts also reported that GGR for the first 18 days of July was up 33 per cent compared to June, when Macau registered its lowest GGR since November 2020, with a drop of 37 per cent month-on-month.

Total GGR for the period was MOP5.2 bn (US$650m) with an average daily rate of MOP288m. VIP revenue was up 28 per cent and mass revenue up 27 per cent month-on-month.

Analysts predicted that GGR in July will be down 60 per cent from pre-pandemic levels but will improve during the summer holiday period.

Bernstein Research expects that a possible travel bubble between Macau and Hong Kong may still be three months away.

For any relaxation of restrictions, authorities in Macau expect Hong Kong to achieve a 70 per cent vaccination rate, which Bernstein doesn’t expect to happen until mid-October.

As of Sunday, 29.5 per cent of Hong Kong’s population had received both doses of a Covid-19 vaccine, while 41.4 per cent had received one dose.

Meanwhile, mainland China will continue to be the only country to have a largely quarantine-free travel bubble with Macau.