Macau reports $1bn in GGR for April
Macau casino gross gaming revenue (GGR) in April was MOP8.4bn ($1.05bn), a 1% increase from MOP8.31bn in March.
Data issued by the Gaming Inspection and Coordination Bureau (DICJ) showed the figures have been impacted by the Covid-19 countermeasures in Macau, but April’s GGR is the highest monthly figure since the start of the Covid-19 pandemic, reported GGRAsia.
April’s GGR is still down 64% compared to MOP23.6bn recorded pre-pandemic. Total casino GGR for the first four months of the year is MOP32.04bn, a 3% year-on-year increase from MOP31.24bn for the same period in 2020.
The Labour Day Golden Week holiday, lasting from 1 May to 5 May, is predicted to see a 20% increase in visitors, and will likely climb over the 40,000 daily visitors mark. Ambrose So Shu Fai, vice-chairman and chief executive of SJM Holdings Ltd, said it’s possible to reach MOP400m in average daily casino GGR during the Labor Day holiday.
Macau’s tourism industry is seeing slow recovery due to travel arrangements with China, as well as reduced quarantine rules when it comes to travellers from China. Comparatively, during the Chinese New Year Golden Week holiday, the daily visitor count reached around 13,000 daily arrivals.
The industry could be preparing for the introduction of digital RMB in Macau. According to brokerage group Sanford C. Bernstein and Co, the digital currency could be a long-term positive innovation, as long as it’s not too restrictive.
Currently, digital RMB is being tested in ten cities in the mainland, with more than 1.2 million people using the currency instead of actual money. The reasoning behind the digital RMB is to provide better monitoring of the money flow, which could benefit mass and premium-mass play.
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