• 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

Ungolden start to Oct for Macau casinos: analysts

Oct 11, 2021 Newsdesk Latest News, Macau, Top of the deck  


Ungolden start to Oct for Macau casinos: analysts

The seven-day holiday starting with China’s National Day, on October 1, was an “un-golden week” for Macau casinos, said a Monday note from JP Morgan Securities (Asia-Pacific) Ltd. Aggregate gross gaming revenue (GGR) for October 1 to 10 was estimated at MOP1.25 billion (US$156 million), “about 10 percent” of pre-Covid-19 October Golden Week seasons, stated the brokerage.

The ‘Golden Week’ term was a reference to an annual autumn holiday in China, that in pre-pandemic times had delivered high numbers of tourists to Macau and strong GGR on the festive days.

New cases of Covid-19 were confirmed in Macau just before the holiday, and also during it, leading to a tightening of travel rules that affected would-be visitors from the mainland. The daily average of visitors to Macau during this year’s October Golden Week  declined 93.7 percent on the already modest numbers of the 2020 holiday.

The estimated GGR tally for the first 10 days of October implied a MOP125-million daily run-rate, “only representing about half of year-to-date” daily GGR, i.e., MOP250 million per day, and only “10 percent-plus of pre-Covid Golden Week” performance, i.e., “MOP1 billion to MOP1.1 billion per day,” wrote analysts DS Kim, Amanda Cheng and Livy Lyu.

In a Monday afternoon note, brokerage Sanford C. Bernstein Ltd also provided its view on October Golden Week’s GGR performance for the Macau market.

“Our channel checks indicate that Macau’s month-to-date GGR (October 1 to 10) was MOP1.25 billion… minus 85 percent compared to October 2019,” wrote analysts Vitaly Umansky, Louis Li and Kelsey Zhu.

They added that despite the “minuscule” visitor numbers for the Golden Week period, “the data indicates that a number of high-end customers” had been able “to get to Macau for the holiday, with average spend per visitor, including mass and VIP, over US$13,000, above the normal average spend for premium mass players.”

Sanford Bernstein also suggested VIP average daily volumes for the period had been down 35 percent month-on-month with “above normal hold”.

The analysts further stated: “Daily mass GGR was also down 35 percent to 38 percent from the September level.”


  • tweet
Related articles
  • Macau ops track early recovery after Jan GGR: analysts
    Macau ops track early recovery after...

    Feb 01, 2023  

  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPM
    Macau CNY mass GGR maybe 60pct plus of...

    Jan 31, 2023  

More news
  • Mainland tour groups to Macau to resume Feb 6: govt
    Mainland tour groups to Macau to resume...

    Feb 03, 2023  

  • Pagcor CEO confident gaming sector will fully recover soon
    Pagcor CEO confident gaming sector will...

    Feb 03, 2023  


Latest News

Mainland tour groups to Macau to resume Feb 6: govt

Mainland tour groups to Macau to resume Feb 6: govt

Feb 03, 2023  

Package tours from mainland China to Macau will resume from Monday, February 6, confirmed Macau’s Secretary for Economy and Finance, Lei Wai Nong, in a Friday press conference. The return of...
Read More
Pagcor CEO confident gaming sector will fully recover soon

Pagcor CEO confident gaming sector will fully recover soon

Feb 03, 2023  

Paradise Co January casino revenue jumps  y-o-y

Paradise Co January casino revenue jumps y-o-y

Feb 02, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$1.43 billion

Macau’s January casino gross gaming revenue



Most Popular

  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
  • January travel lift, CNY sees Macau GGR up 233pct m-o-mJanuary travel lift, CNY sees Macau GGR up 233pct m-o-m February 1, 2023
  • Macau ops track early recovery after Jan GGR: analystsMacau ops track early recovery after Jan GGR: analysts February 1, 2023
  • Aruze Gaming America opts financial rejig after legal matterAruze Gaming America opts financial rejig after legal matter February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us