Macau’s January GGR will be down 77% from pre-pandemic levels – analysts
Analysts attribute the numbers to tighter travel restrictions and border testing requirements.
Macau.- Sanford C. Bernstein Ltd has predicted that Macau’s gross gaming revenue (GGR) for January will be down 77 per cent when compared to pre-pandemic levels. Average daily GGR for the third week of January was down 53 per cent when compared to the previous week, falling from MOP244m (US$30.5m) to MOP114m (US$14.2m).
Month-to-date GGR is MOP4.9bn (US$612m), down 74 per cent when compared to pre-pandemic levels, with average daily revenue of MOP213m. The figure is also down 17 per cent from December 2021 levels.
VIP transaction volume has fallen by 50 per cent so far this month, mainly due to the crisis in the sector after Alvin Chau Cheok Wa, CEO of Suncity Group Holdings, was arrested over cross-border gambling and money laundering accusations. Mass GGR is down 10 per cent from December.
Over the last week, authorities have imposed new travel restrictions on incoming travellers from mainland China, including those from Macau’s neighbouring city of Zhuhai in Guangdong province. Inbound travellers from Zhuhai must present a negative Covid-19 nucleic acid test result obtained in the previous 24 hours instead of in the previously set 48 hours.
