Macau GGR rose 6% for third week of July
Sanford C. Bernstein Ltd has estimated that Macau’s gross gaming revenue (GGR) rose by 6% for the week that ended 18 July, compared to the first 11 days of the month.
Macau’s GGR for the first 18 days of July saw a 33% month-on-month increase and was MOP5.2bn (approximately $650m), with a month-to-date average daily rate of MOP288m, as reported by GGRAsia.
However, the daily average is still 63% lower than the MOP789m recorded in July 2019. According to Bernstein, VIP for July rose by 28% and mass revenue increased by approximately 25%.
The analysts believe overall GGR for 2021 will reach 50% of the figures recorded in 2019. This would represent a 140% increase compared to 2020.
Macau’s GGR relies heavily on players travelling from neighbouring countries, most notably mainland China; but given the unstable travel conditions all over the world, the total GGR prediction is uncertain.
Visitors from the Guangdong province can already benefit from eased travel restrictions, which helps with the recovery of Macau’s market.
But the long-planned travel bubble with Hong Kong will likely be delayed yet again. According to analysts, visitors from Hong Kong could add close to 20% of Macau’s GGR.
Previously, Macau aimed to open up travel between the two regions once Hong Kong reached 28 consecutive days without a new case, but now the eased travel restrictions won’t be implemented until Hong Kong opens its door to mainland China.
To achieve this, the region has to reach a 70% vaccination rate; at present, the number of people who have received the second dose is only at 30%. Another hurdle might be a requirement to strictly monitor international travel.
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