Macau daily gross gaming revenue (GGR) was down 14 percent week-on-week during July 19 to 25, according to estimates by brokerage Sanford C. Bernstein Ltd.
Macau casino GGR is not always a proxy for actual visitor volume to the city, according to historical data from pre-pandemic periods, but the institution noted in the same memo that a “new wave” of Covid-19 cases in mainland China “may limit near term” the visitor volume to Macau.
Currently, only the mainland has a largely quarantine-free travel bubble with Macau.
For the seven days to July 25, average daily Macau casino revenue was MOP257 million (US$32.1 million) suggested analysts Vitaly Umansky, Louis Li and Kelsey Zhu, versus MOP300 million in the prior week.
“We forecast July GGR to be down around mid-60s of percent compared to July 2019; up approximately 30 percent month-on-month from June 2021,” they added.
July’s overall sequential GGR improvement had been driven by visitor volume recovery “following the June travel disruption in Guangdong” caused by a Covid-19 outbreak, said the institution, referring to the mainland province next door to Macau.
Sanford Bernstein stated, regarding a fresh outbreak of mainland cases linked to Nanjing in Jiangsu province: “Two recent cases linked to the new wave of local Covid-19 infections in Nanjing have raised concerns about potentially a new outbreak in Guangdong: so far it is under control with Covid testing of the entire city of Zhuhai slated to be completed on Tuesday [July 27].”
Jan 24, 2022Andrea Domingo, chairman and chief executive of the Philippine casino regulator, says her institution and the casino licensees in the country “are still committed” to relief effort to help...
Jan 24, 2022
Jan 24, 2022
”The lockdowns, movement restrictions and temporary closure of gaming operations have tremendously affected our revenues, but Pagcor and our licensed casinos will continue to support the government in helping Filipinos in need"
Chairman and chief executive of Philippine Amusement and Gaming Corp