Macau GGR for January increased by 2.6 per cent month-on-month compared to December, but doubts remain over forecasts for February.
Macau.- The gaming industry saw its best monthly performance since the Covid-19 pandemic began last month with a 2.6 per cent increase in gross gaming revenue (GGR) compared to the previous month.
GGR for January came in at MOP8bn (US$1bn, the best monthly result in 12 months, surpassing the months of Golden Week and the Christmas holiday periods.
However, the numbers remained down by 63.7 per cent year-on-year.
According to analysts at Sanford C. Bernstein, GGR “continued to be negatively impacted by visitation bottlenecks due to visa processing and Covid[-19] test requirement, and by weakness in VIP volumes.”
Bernstein suggested that Chinese New Year tourism to Macau will be impacted: “The travel impediments will lead certainly to reduced visitation (versus earlier forecasts) into Macau for the next few weeks at least, with Chinese New Year visitation being impacted.”