Macau’s gaming operators averaged gross gaming revenues of around MOP$185 million (US$23.2 million) per day over the past week, down from MOP$250 million (US$31.3 million) per day earlier in the month as recent momentum began to slow.
However, JP Morgan’s DS Kim, Derek Choi and Jeremy An stated, “We wouldn’t read too much into the weekly volatility,” with no changes made to their November GGR forecasts, estimated to fall by around 60% to 65% year-on-year.
The past week’s daily revenue represented a 73% decline versus the same period in 2019 and was 16% down on the final three weeks of October, while month to date GGR is estimated to be down 71% on November 2019 and 6% on October 2020.
Total GGR over the first 15 days of November is estimated to be MOP$3.3 billion (US$413.4 million).
As previously reported by IAG, visitation to Macau has reached around 40,000 per day in recent weeks with Bernstein’s Vitaly Umansky, Tianjiao Yu and Kelsey Zhu noting, “We expect visitation to continue to increase over the next few weeks and months with a pickup in gaming visitors, as visa processing improves over time.”