Macau’s daily gross gaming revenue (GGR) fell 23% week-on-week in the seven days from 6 to 12 June 2022, coming off the back of a stronger start to the month thanks to the Dragon Boat Festival long weekend.
According to brokerage Bernstein’s weekly GGR channel checks, this places month-to-date GGR at MOP$1.25 billion (US$153 million) with an average daily rate of MOP$104 million (US$13 million) – 3% lower than in May. It is also down 87% on June 2019 and 52% lower than June 2021.
“GGR in the first half of June is still constrained by weak travel sentiments and visa control from mainland [China],” said analysts Vitaly Umansky, Louis Li and Shirley Yang. “VIP volume and mass GGR were marginally improved from May 2022, with slightly elevated VIP hold-rate.”
While recently eased entry requirements from mainland China have provided a boost to Macau’s visitation, the analysts added that “the mainland’s COVID travel impediments and visa control on frequent gamblers may continue to impact near-term visitation and GGR.”
As such, Bernstein has lowered its Macau GGR forecast for June, which is now expected to be down 85% compared with June 2019 but with ADR up 11% month-on-month.
“This could still be lower if travel does not pick up during the month,” they wrote.