Macau’s daily gross revenue fell 37% week-on-week to just MOP$79 million in the seven days from 11 to 17 October, its lowest daily average since late September 2020 according to brokerage Bernstein.
In their weekly Macau GGR report, analysts Vitaly Umansky, Louis Li and Kelsey Zhu said the average daily rate was also 88% lower than October 2019 with the border between Macau and Zhuhai having been effectively closed since 26 September.
However, they note that while the past week’s numbers have been particularly low, they also suggest that the prior week, comprising part of the October Golden Week holiday which ran from 1 to 7 October, saw “a number of high-end customers were able to get to Macau for the holiday with average spend above the normal average for premium mass players.”
Nevertheless, month to date GGR is estimated at MOP$1.8 billion (US$224 million) with the average daily rate down 46% on September.
The analysts predict October GGR to finish more than 80% lower than October 2019 but with some improvement towards the end of the month and into November given Monday’s announcement that border restrictions between Macau and Zhuhai will be dropped from today.