Macau\u2019s GGR for the first week of December was up 14 per cent week-on-week to MOP260m (US$32.4m).<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Sanford C. Bernstein Ltd<\/strong>\u00a0has reported that Macau\u2019s gross gaming revenue (GGR) for the first week of December was up 14 per cent week-on-week.\u00a0 The average daily revenue <\/strong>between December 1 and 5 was MOP260m (US$32.4m).<\/p>\n\n\n\n Meanwhile, the number of foreign visitors continued to rise. The average number of visits was about 58,000, which makes December look set to beat May, which was the best month of the year so far thanks to the\u00a0Labour Day break<\/a>.<\/p>\n\n\n\n Month-to-date GGR was MOP1.3bn (US$162m), down 65 per cent when compared to pre-pandemic levels, but up 16 per cent\u00a0month-on-month<\/a>. Analysts at Sanford Bernstein predict that\u00a0Macau’s GGR for December will be down 68 per cent\u00a0<\/strong>when compared to December 2019 but up 9 per cent when compared to November, mainly due to an increase in mass table revenue.<\/p>\n\n\n\n Bernstein also said that after the unusually low level in November, the VIP holding rate has returned to a normal level of about 3 per cent.\u00a0 The average daily rolling volume of VIP dropped by a mid-to-high percentage, while mass’s GGR increased by about 20 per cent compared to November.<\/p>\n\n\n\n On\u00a0the arrest of Alvin Chau Cheok Wa<\/a>, CEO of Suncity Group Holdings, analysts said: “Local sources indicate that the gaming regulator had instructed junkets to stop offering credit to customers (and only allow cash play) and Wynn and others are shuttering junkets.”<\/p>\n\n\n\n As previously\u00a0reported by Focus Gaming News<\/a>, Jonathan Halkyard<\/strong>, MGM\u2019s chief financial officer, has said that Macau\u2019s gaming market will improve in the medium term. However, speaking in an online session at the Morgan Stanley Global Retail and Consumer Conference, he said that\u00a0Macau\u2019s gaming market performance<\/a>\u00a0will be irregular over the next six or twelve months.<\/p>\n\n\n\n He said: \u201cI think it\u2019s going to improve, but it\u2019s unknowable at this point how quickly that will improve.\u201d<\/p>\n\n\n\n\u201cMacau\u2019s gaming market will improve in the medium term\u201d \u2013 MGM CFO<\/h2>\n\n\n\n