Macau’s gross gaming revenue has continued its upward trend into the new year, according to brokerage Bernstein, up 13% over the first 10 days of the month compared to December GGR.
In their first weekly revenue update of 2021, analysts Vitaly Umansky, Tianjiao Yu and Kelsey Zhu estimate GGR of MOP$2.85 billion (US$356.3 million) or MOP$285 million (US$35.6 million) per day between 1 and 10 January, improved from an average MOP$252 million (US$31.5 million) per day in December 2020.
Macau’s Gaming Inspection and Coordination Bureau recently reported GGR of MOP$7.82 billion (US$977.5 million) in December, down 65.8% year-on-year but the highest total since January.
The current 10-day estimate represents a 68% decline versus the same period last year and 60% down on the full month of January 2020, with VIP down in the mid-70% range and mass market revenue down by just over 60%.
Based on the current trend, January 2021 GGR is tipped to fall by “low-to-mid 60s %” according to Bernstein.