GGRAsia – Macau GGR up 229pct sequentially in October: govt

Macau GGR up 229pct sequentially in October: govt

Nov 01, 2020 Newsdesk Latest News, Macau, Top of the deck

Macau casino gross gaming revenue (GGR) rose 228.8 percent month-on-month in October, according to data released on Sunday by the city’s regulator, the Gaming Inspection and Coordination Bureau.

The body – also known as DICJ – said such GGR was MOP7.27 billion (US$910.5 million) for the month, compared to MOP2.21 billion in September. Judged in year-on-year terms, the latest monthly tally was down 72.5 percent from the MOP26.44 billion achieved in October 2019.

Brokerage Sanford C. Bernstein Ltd said last week it estimated October casino GGR to be 73 percent down from the prior-year period. “The drivers of Macau recovery will be confidence levels of customers to travel and spend,” said the institution in a October 27 memo, adding that any “easing of visa issuance” protocols in mainland China, and of “Covid[-19] testing requirements,” would be positive developments for the market.

Last month’s result meant that the aggregate of Macau casino GGR for the 10 months to October 31 stood at MOP45.88 billion, a contraction of 81.4 percent year-on-year.

October Golden Week this year incorporated the lunar-calendar based Mid-autumn Festival, as well as China’s October 1 National Day. China’s State Council had designated October 1 to October 8, inclusive, as the holiday period.

Visitor arrivals to Macau during the entire autumn Golden Week holiday period this year totalled 156,300, according to official data. The daily average of visitor arrivals during this year’s October holiday period stood at 19,538, down 86.0 percent from the prior-year period. The figures however are not directly comparable as this year’s holiday period included one more day compared with last year’s autumn Golden Week.

Investment analysts had suggested that Macau’s casino performance during this year’s autumn Golden Week period was “disappointing, but expected” due to the visitor volume to the city.