Macau’s daily gross gambling revenue (GGR) was up 9 per cent week-on-week at MOP86m ($11m).
Macau.- Sanford C. Bernstein Ltd has reported that last week’s gross gaming revenue in Macau was up 9 per cent when compared to the previous week, rising from MOP79m (US$9.8m) to MOP86m (US$11m). Macau’s month-to-date average daily rate stands at MOP1.4bn (US$172m), down 91 per cent when compared to pre-pandemic levels and down 53 per cent year-on-year.
Analysts Vitaly Umansky, Louis Li and Shirley Yang stated: “The recovery is still slow as constrained by various travel restrictions in China, and players remaining cautious on travel (in fear of government suddenly imposing lockdown order like in Sanya of Hainan province).”
They added: “Although Macau has recorded zero Covid cases since July 30, and has seen some visitation improvement this month, the pace of GGR recovery in August and September is still uncertain and largely dependent on whether China can quickly contain the regional Covid outbreaks.”
Analysts at Citibank have forecast that Macau’s GGR for August could rise 376 per cent month-over-month to MOP 1.5bn (US$185.7m). That figure would be one third of what was recorded in August 2021.
Sanford Bernstein previously predicted that Macau’s average daily GGR for August could increase by 549 per cent month-on-month. However, it said results may be lower if there are new Covid-19 outbreaks in Macau or mainland China.