• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Macau weekly GGR rebounds as travel rules eased: Bernstein

Aug 23, 2021 Newsdesk Latest News, Macau, Top of the deck  


Macau weekly GGR rebounds as travel rules eased: Bernstein

Macau casino gross gaming revenue (GGR) for the seven days to Sunday (August 22) rose by 55 percent week-on-week, as travel restrictions were gradually eased, said brokerage Sanford C. Bernstein Ltd in a Monday note.

Citing channel checks, the institution suggested the average daily rate for the seven days from August 16 to August 22 inclusive was MOP120 million (US$15.0 million) compared to MOP78 million the previous week.

“The figure is still significantly constrained due to Covid-related travel slowdown,” linked to the confirmation of Covid-19 cases in Macau on August 3, it said.

“The past week’s GGR recovered as the travel impediments caused by Macau’s recent local Covid cases … have begun to be gradually relaxed and China is slowly reducing travel restrictions in some areas after what appears to be the passing of the peak of the most recent Covid outbreak,” wrote analysts Vitaly Umansky, Louis Li, and Kelsey Zhu.

Mainland China is currently the only place to have a largely quarantine-free travel bubble with Macau.

Macau has seen a gradual rebound in its daily tourist arrivals since a fortnight ago. The recent pickup coincided with an easing on August 10, of the rules regarding the valid duration for a Covid-19 test – from 12 hours previously, to 48 hours – required by cross-border travellers moving between Macau and Guangdong province.

The brokerage stated that visitor arrivals to Macau in the period from August 14 to 18 were up 168 percent week-on-week, “though still down 42 percent from July’s daily average.”

The institution stated its checks indicated Macau’s GGR for August 1 to 22 inclusive was MOP2.4 billion, with the month-to-date average daily rate at MOP109 million.

Sanford Bernstein said this was down 86 percent on August 2019’s MOP783 million daily – prior to the start of the Covid-19 pandemic – and down 60 percent compared to last month’s MOP272 million daily.

It forecasts full-August GGR would be down in the mid-80s of percent compared to August 2019; and down at least 50s of percent sequentially compared to July 2021.

“September is likely to also be soft as it will take time to get travel back to April/May levels,” wrote the Sanford Bernstein team.


  • tweet
Related articles
  • Ponte 16 narrows 2022 EBITDA loss, revenue down 24pct
    Ponte 16 narrows 2022 EBITDA loss,...

    Mar 30, 2023  

  • Summit Ascent US$1.5mln profit in 2022, mulls partners
    Summit Ascent US$1.5mln profit in 2022,...

    Mar 30, 2023  

More news
  • LET Group narrows year loss, Manila site open end 2024
    LET Group narrows year loss, Manila...

    Mar 31, 2023  

  • Jeju Shinhwa op narrows loss, gets extension from Pagcor
    Jeju Shinhwa op narrows loss, gets...

    Mar 31, 2023  


Latest News

LET Group narrows year loss, Manila site open end 2024

LET Group narrows year loss, Manila site open end 2024

Mar 31, 2023  

Hong Kong-listed LET Group Holdings Ltd, an investor in a number of Asia-Pacific region casino projects, reported in Thursday filing an annual loss attributable to shareholders of just under...
Read More
Jeju Shinhwa op narrows loss, gets extension from Pagcor

Jeju Shinhwa op narrows loss, gets extension from Pagcor

Mar 31, 2023  

Ponte 16 narrows 2022 EBITDA loss, revenue down 24pct

Ponte 16 narrows 2022 EBITDA loss, revenue down 24pct

Mar 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Efforts have pivoted to the construction of the hotel tower, with plans to launch a soft opening before the end of 2024 and a grand opening in 2025”

Casino investor LET Group

On the development of a casino hotel in Manila, the Philippine capital



Most Popular

  • Sands China ups ties to China showbiz giant Star CMSands China ups ties to China showbiz giant Star CM March 29, 2023
  • Suntrust confirms casino hotel 2024 opening on trackSuntrust confirms casino hotel 2024 opening on track March 29, 2023
  • Japan govt delays IR decision due to local elections: reportJapan govt delays IR decision due to local elections: report March 30, 2023
  • GEN Singapore boss flags uneven recovery pace in 2023GEN Singapore boss flags uneven recovery pace in 2023 March 28, 2023
  • Macau got 16k mainland package tourists in Feb reopeningMacau got 16k mainland package tourists in Feb reopening March 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us