Macau’s gross gaming revenues are showing signs of life, with an Average Daily Rate of MOP$257 million (US$32.2 million) over the past seven days compared with MOP$200 million (US$25.0 million) at the start of the month, according to a weekly GGR report by brokerage Sanford C Bernstein.
While Macau-wide GGR for 1 to 13 December totalled around MOP$3 billion (US$375 million) or MOP$230 million (US$28.8 million) per day, the period between 7 and 13 December saw a notable improvement based on the estimates of analysts Vitaly Umansky, Tianjiao Yu and Kelsey Zhu, representing a 65% decline over the same period last year but 14% higher than November 2020.
Month to date, GGR is up 3% compared with November, when the DICJ reported revenues of MOP$6.75 billion (US$845 million) – down 70.5% year-on-year.
Bernstein is now predicting a year-on-year GGR decline of between 65% and 69% in December before a more steady recovery gets underway in 2021 that should see revenues back to around 80% of 2019 levels. GGR is tipped to recover fully by 2022.
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