Macau saw $225m in GGR for first week of March

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Macau saw $225m in GGR for first week of March

Macau’s GGR for the first week of March is estimated to be MOP$1.8bn ($225m). According to analysts at brokerage Sanford C. Bernstein, the first seven days of the month recorded MOP$257m a day, a 2% decline from the daily figures in February.  

Inside Asian Gaming reported the figures show a 19% increase in revenue compared to the last week of February, but it’s a 70% drop for the same period in 2019. The analysts estimate GGR for March 2021 would face a decline of 65% compared to the figures recorded at pre-Covid levels in 2019.

Experts from Bernstein expect the visitations and GGR to slowly increase in March and April now that mainland China has eased travel restrictions. But without big changes to, for instance, group visa issuance changes and Hong Kong opening, analysts say, GGR and visitation will remain down. “We expect a more robust GGR uplift to begin this summer,” they say.

Macau is slowly improving its exports of gaming services. Q4 2020 saw a 70% drop in exports compared to 2019, an improvement from a 94% year-on-year drop in Q3. Tourism services exports also declined by 49% in Q4, but was an improvement from 88% in Q3. Statistics and Census Service noted, “as visitor arrivals recovered from the previous quarter, exports of services dropped at a slower pace, by 61% year-on-year.”