Macau’s GGR for early July sees 16% increase compared to June
Sanford C. Bernstein Ltd has reported a 16% increase in Macau’s gross gaming revenue (GGR) for 1-11 July, compared to the last 10 days of June.
It’s also a 29% month-on-month rise from June’s overall figures. Macau’s month-to-date GGR for the 11 days of July was MOP3.1bn ($387m), with a month-to-date average daily rate of MOP282m, acording to GGRAsia.
It’s a 64% decline compared to the numbers in July 2019 at pre-pandemic levels, but experts believe revenue for July 2021 will still be higher than the total on record for March, marking a slow recovery for the industry.
VIP volume saw a 25% increase in average daily rolling volume month-on-month.
June’s GGR dropped by 34% month-on-month and was a harder month for Macau, mainly because nearby Guangdong suffered a spike in Covid-19 cases, which meant travel to and from the area has been restricted.
Guests from Guangdong had to quarantine for close to two weeks, which slowed the number of visitors coming to Macau’s casinos.
The travel restrictions have now been lifted and the signs of recovery are already visible in July’s figures. Analysts predict a strong rebound in this month’s GGR.
Macau is currently working to secure more travel bubbles with nearby regions; most notably with Hong Kong, but it’s a slow process.
Plans have been delayed several times, most recently due to a new outbreak in Hong Kong.
Although, the city has reportedly dealt with the problem, so talks about the eased travel arrangement are expected to continue.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
