Jun 06, 2022 Newsdesk Latest News, Macau, Top of the deck  
Macau’s average daily rate for casino gross gaming revenue (GGR) in the first five days of June was up 11 percent from the average recorded for full May, estimated a Monday note from brokerage Sanford C. Bernstein Ltd.
The institution said – citing its own channel checks – the average daily rate for the relevant period was MOP120 million (US$14.8 million), “double week-on-week from the MOP60 million during May 23-31”. The month-to-date daily average was down 45 percent from the prior-year period, said the note from analysts Vitaly Umansky, Louis Li and Shirley Yang.
“VIP volume and mass GGR marginally improved from May 2022, with normal VIP hold-rate,” added the Sanford Bernstein team.
The institution said the week-on-week increase in daily revenue “was supported by relaxed Covid measures and a holiday weekend” in Macau.
Since June 2, people intending to travel to Macau from neighbouring Guangdong province, in mainland China, must hold a nucleic acid test certificate issued within seven days proving they are ‘negative’ for Covid-19 infection. That was a relaxation from the previously-maintained 72 hours.
In terms of Covid-19 cases in mainland China – a phenomenon perceived as having dampened on occasion recently mainland consumer demand for trips to Macau – the brokerage observed that China’s reported Covid-19 cases “have now come down to circa 1 percent of the peak level in mid-April, with most cities having ended lockdown but implemented regular mass-testing measures for all residents.”
“With China’s Covid situation stabilising and border measures relaxed, Macau’s MGTO has pushed discounts on air tickets and hotel rates, and planed a series of ‘Macau Week’ roadshow events in China to boost the mainland visitation in the coming summer,” stated the brokerage.
On Friday, the director of the Macao Government Tourism Office (MGTO), Maria Helena de Senna Fernandes, said she hoped the number of visitors to Macau could increase to nearly 40,000 a day, following the relaxation of the Covid-19 test rule for visitors arriving from Guangdong.
The tourism bureau boss said also that the Macau authorities were planning a “Macao Week” promotional event to be held in Qingdao, Shandong province, in August. The MGTO was considering holding similar roadshows elsewhere in the mainland in the second half of the year, she added.
In its Monday note, Sanford Bernstein forecast the average daily rate for June GGR to be up 46 percent from May, but said the result could “be lower if travel does not pick up during the month.”
Jun 08, 2023
Jun 07, 2023
Jun 08, 2023
Jun 08, 2023
Jun 08, 2023
Macau recorded 158 “gaming-related” crimes in the first three months of 2023, up 24.4 percent on the 127 identified in the prior-year period, according to the latest statistics published on...Jun 08, 2023
Gaming content and equipment maker Konami says it is...Jun 07, 2023
Casino gaming content and hardware provider Light &...Jun 06, 2023
Electronic table games (ETGs) supplier Interblock dd is...Jun 05, 2023
Random number generator (RNG) testing tools are among the...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”I think the gaming sector has a huge potential in coming years. The situation around the pandemic drew a lot of attention from the casino operators to the ETG segment”
Michael Hu
President for the Asia-Pacific region at gaming supplier Interblock