Macau\u2019s GGR for the first week of January was down 9 per cent week-on-week with average daily revenue of MOP266m (US$33.3m).<\/p>\n\n\n\n\n\n\n\n
Macau.- Sanford C. Bernstein Ltd<\/strong> has reported that Macau\u2019s gross gaming revenue (GGR) for the first week of January declined 9 per cent when compared to the last week of December<\/a>.<\/p>\n\n\n\n Despite the decline, analysts remarked the city is recording a good number of bookings for Chinese New Year.<\/p>\n\n\n\n The average daily rate between January 1 to 6 was MOP266m (US$33.3m). Month-to-date GGR is MOP2.4bn<\/strong>, down 67 per cent when compared to pre-pandemic levels but up 4 per cent month-on-month and 3 per cent when compared to January 2021.<\/p>\n\n\n\n Analysts at Bernstein also revealed that mass-market revenues during this period were strong, with an increase of 10 per cent to 15 per cent compared to December last year,<\/strong> although revenue from VIP services was weak as junkets continued to reduce their business. <\/p>\n\n\n\n VIP transaction volume has fallen by 50 per cent so far this month<\/strong>, and in December it fell by 40 per cent to 45 per cent. It says that most VIP events are direct.<\/p>\n\n\n\n The period before Chinese New Year is traditionally slow, so Bernstein expects January\u2019s GGR to fall by 70 per cent <\/strong>from 2019 levels. <\/p>\n\n\n\n However, it stated that some operators reported strong forward bookings for the holidays from January 31 to February 3.<\/p>\n\n\n\n Elsie Ao Ieong U, Macau\u2019s Secretary for Social Affairs and Culture<\/strong>, has announced authorities are analysing the possibility of requiring proof of Covid-19 vaccination<\/a> or a negative Covid-19 nucleic acid test result for admission to indoor venues.<\/p>\n\n\n\n The measure will be for places such as restaurants but it is still unknown if casinos will be affected by the rule.<\/p>\n\n\n\nMacau\u2019s indoor venues to require vaccination proof for admission<\/h2>\n\n\n\n