Macau\u2019s GGR for the third week of March was down 13 per cent week-on-week.<\/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 third week of March was down 13 per cent\u00a0week-on-week<\/a>\u00a0to MOP100m (US$12.4m). Analysts say that equates to the lowest average daily rate since January.<\/p>\n\n\n\n The fall was mainly due to a new rise of Covid-19 cases in the neighbouring province of Guangdong, which led\u00a0authorities to tighten countermeasures.<\/a> Month-to-date GGR is MOP2.6bn (US$323m)<\/strong>, down 51 per cent year-on-year and down 84 per cent when compared to pre-pandemic levels. The daily average for the month to date is MOP130m (US$16m).<\/p>\n\n\n\n Analysts predicted Macau’s GGR for March will be down 86 per cent compared with pre-pandemic levels and warned the figure could be even lower if further restrictions are imposed.<\/p>\n\n\n\n A week ago,\u00a0analysts at investment bank Citi<\/a>\u00a0predicted that Macau\u2019s gross gaming revenue (GGR) for March would be down 42 per cent\u00a0when compared to February<\/a>\u00a0at around MOP4.5bn (US$558.5m).\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Macau\u2019s GGR for the third week of March was down 13 per cent week-on-week.<\/p>\n","protected":false},"author":176,"featured_media":26697,"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) for the third week of March declined 13% week-on-week to MOP100m, marking the lowest average daily rate since January. This contraction is primarily attributed to new COVID-19 cases in Guangdong, leading to tightened countermeasures. Month-to-date GGR is down 51% year-on-year and 84% compared to pre-pandemic levels, with analysts forecasting an 86% decline for March against pre-pandemic figures.","focusai_entities":"Sanford C. Bernstein Ltd, Citi","focusai_location":"Macau, Guangdong","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Q1 Earnings?","query":"How will the sustained GGR contraction in March, exacerbated by regional COVID-19 outbreaks, specifically impact the Q1 2022 earnings reports and forward guidance of Macau's concessionaires?"},{"label":"Regulatory Support Measures?","query":"Given the severe GGR decline, what potential regulatory or governmental support measures might Macau authorities consider to stabilize the gaming market and support concessionaires?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-28273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28273","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=28273"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28273\/revisions"}],"predecessor-version":[{"id":28277,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28273\/revisions\/28277"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26697"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}