Macau’s gross gaming revenue is tracking 11% lower over the first six days of December than in November, with analysts estimating gross gaming revenue of around MOP$1.2 billion (US$150 million) or MOP$200 million (US$25 million) per day, for six days.
According to Bernstein’s weekly Macau channel checks, an average daily rate of MOP$200 million represents a 72% decline compared with the 1 to 6 December 2019 and is 11% lower than in November, when Macau GGR came in at MOP$6.75 billion (US$844 million) or MOP$225 million (US$28 million) per day.
By segment, mass has recovered stronger – estimated to be down by between 65% and 70% year-on-year – with VIP volumes down closer to 80% on weak hold. December GGR is currently estimated to be down by 60% to 70% year-on-year.
While Bernstein expects visitor numbers to Macau to gradually increase over the coming months, pushing up GGR numbers at the same time, short-term recovery continues to be impacted by the closure of Macau’s borders with Hong Kong which contributes between 10% and 15% of annual revenues.
Hong Kong continues to battle with a fourth wave of COVID-19, reporting another 78 cases on Monday to lift the seven-day total to 661.
“The new rising cases delay any hopes for a near term travel opening between Hong Kong and Macau,” Bernstein said on Monday.
“The Macau government had earlier confirmed that there will not be Macau-Hong Kong travel bubble until Hong Kong has zero local transmissions for a consecutive 14 days.”
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