Macau visitor numbers continue to rise but GGR falls

Macau has reported gross gambling revenue of MOP$1.5bn (US$187m) for the first six days of April.

Macau.- Macau casinos saw gross gaming revenues of MOP$250m (US$31m) per day during the first six days of April, down 7 per cent from March’s daily average.

The average daily rate is also down 68 per cent compared with April 2019, prior to the Covid-19 pandemic and travel restrictions.

Forecasts lowered for Macau’s second quarter

Deutsche Bank now forecasts Macau’s GGR for the second quarter of the year will reach US$2.96bn, down 32 per cent drop from its previous prediction of US$4.39bn.

However, that would still represent a 634.8 per cent year-on-year improvement on the US$404.8m in the second quarter of 2020. The bank expects mass-market GGR for Q2 to be US$2.15bn and VIP GGR to reach US$820.8m.

Deutsche Bank also forecasts full-year GGR of US$19.29bn, up 155 per cent year-on-year, provided Covid-19 countermeasures continue to be eased.

The city has been easing some Covid-19 countermeasures with the aim of encouraging tourism.

Macao Government Tourism Office (MGTO) director, Maria Helena de Senna Fernandes said the city is expecting a stronger flow of tourists from mainland China for the upcoming Labour Day break, on May 1.

The brokerage Sanford C. Bernstein Ltd estimates that Macau’s full-year casino GGR will grow 210 per cent year-on-year.

Analysts said: “China eased travel restrictions in late February with the Jan-Feb COVID spike coming under control, and Macau visitation has seen some increase. A few weeks do not make a trend, and we expect GGR to improve through April and May.”

The Gaming Inspection and Coordination Bureau‘s figures show that Macau’s GGR for the first three months of 2021 combined stood at MOP$23.64bn (US$2.95bn), up 8 per cent increase compared to Q4 2020.

Macau’s GGR for March came in at US$1.04bn, up from US$914.5m in February and up 58 per cent year-on-year.