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Macau’s daily GGR drops 23% in week after Dragon Boat Festival holiday

Ben Blaschke by Ben Blaschke
Tue 14 Jun 2022 at 04:51
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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.

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Tags: 2022Bernsteindragon boat festivalGGRgross gaming revenueJuneMacauVitaly Umansky
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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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