Macau's daily GGR falls 23% in the week after the Dragon Boat Festival vacation
Macau's daily gross gaming revenue (GGR) decreased by 23 percent during the week of June 6-12, 2022, following a higher start to the month due to the Dragon Boat Festival long weekend.
This sets month-to-date GGR at MOP$1.25 billion (US$153 million) with an average daily rate of MOP$104 million (US$13 million) – 3 percent less than in May, according to weekly GGR channel checks conducted by the stockbroker Bernstein. Additionally, it is down 87 percent from June 2019 and 52 percent from June 2021.
According to experts Vitaliy Umansky, Louis Li, and Shirley Yang, "GGR in the first half of June is still hampered by poor travel attitudes and mainland [China] visa restrictions." "VIP volume and mass GGR improved moderately from May 2022, with a modestly increased VIP hold-rate."
While newly relaxed entrance procedures from mainland China have boosted Macau's tourism, analysts note that "the mainland's COVID travel restrictions and visa control on regular gamblers may continue to impair near-term tourism and gross gaming revenue."
As a result, Bernstein has decreased its Macau GGR projection for June, which is now predicted to be 85 percent lower than June 2019 but 11 percent higher month-over-month.
“This could still be lower if travel does not pick up during the month,” they wrote.
By fLEXI tEAM