Revenue increased 279 per cent month-on-month but remained low compared to pre-pandemic levels. <\/p>\n\n\n\n\n\n\n\n
Macau.- Gross gaming revenue (GGR) for Macau’s casinos during the Golden Week holiday period was down by 76 per cent compared to last year, according to a report from Sanford C. Bernstein.<\/p>\n\n\n\n
Despite efforts to boost tourism for the October 1 to 8 holiday, which this year also included China\u2019s National Day, results were “disappointing” for the gaming and tourism industry.<\/p>\n\n\n\n
Sanford Bernstein analysts Vitaly Umansky, Tianjiao Yu and Kelsey Zhu said the first seven days of the Golden Week period generated total GGR of about MOP1.95 billion (US$246 million). That implied a daily average rate of MOP279 million, down 76 per cent year-on-year.<\/p>\n\n\n\n
It at least marked a significant improvement on September, with revenue increasing 279 per cent month-on-month.<\/p>\n\n\n\n
The researchers said: \u201cAt this stage, we estimate [full] October to see a [GGR] decline of maybe 70 per cent from the prior-year period. This is largely tied to visa processing and visitation and severity of any liquidity constraints which remain largely uncertain.\u201d<\/p>\n\n\n\n
However, they forecasted an increase in tourism: \u201cThe key will be the simplification of the visa process (currently taking up to two weeks to process), and perhaps elimination of the Covid-19 test requirement”.<\/p>\n\n\n\n
Mainland Chinese tourists wishing to enter Macau must show a certificate for a valid, negative Covid-19 test, issued in the preceding seven days before arrival. <\/p>\n","protected":false},"excerpt":{"rendered":"
Revenue increased 279 per cent month-on-month but remained low compared to pre-pandemic levels.<\/p>\n","protected":false},"author":2,"featured_media":10772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Gross Gaming Revenue (GGR) during the Golden Week holiday period declined 76% year-on-year to MOP1.95 billion, despite a 279% month-on-month increase, indicating a slow recovery from pre-pandemic levels. Sanford C. Bernstein analysts attribute the subdued performance to ongoing visa processing delays and COVID-19 testing requirements, forecasting a 70% GGR decline for October.","focusai_entities":"Sanford C. Bernstein, Vitaly Umansky, Tianjiao Yu, Kelsey Zhu","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), supplier_vendor (0.7), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Visa process impact","query":"What specific policy changes are required to streamline the visa process for mainland Chinese tourists entering Macau, and what is the projected GGR uplift from such reforms?"},{"label":"Liquidity constraints","query":"How are the identified \"liquidity constraints\" among high-net-worth individuals in mainland China specifically impacting Macau's VIP GGR segment, and what is the outlook for this segment's recovery?"}],"footnotes":""},"categories":[160,161,16338,163,158],"tags":[725,257],"class_list":["post-10769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-daily-news","category-east-asia-news","category-finance-news","category-slider-home","tag-ggr","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10769"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10769\/revisions"}],"predecessor-version":[{"id":10780,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10769\/revisions\/10780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10772"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}