Sanford C. Bernstein Ltd reported a 16% increase in Macau Gross Gaming Revenue (GGR) for the period 1-11 July, compared to the last 10 days of June.
Macau’s GGR for the 11th of July was MOP$3.1 billion (US$387 million), with a monthly average of MOP$282 million per day, according to GGRAsia.
That’s a 64% decline compared to July 2019 figures at pre-pandemic levels, but experts believe revenue for July 2021 will still be higher than the total recorded for March, marking a slow recovery for the industry.
VIP volume had a 25% increase in average daily moving month-to-month volume.
A complicated period for Macau
June’s GGR fell 34% month-on-month and was a tougher period for Macau, mainly as neighboring Guangdong experienced a spike in Covid-19 cases, which meant that round-trip travel to the area was restricted.
Guests from Guangdong had to be quarantined for nearly two weeks, which reduced the number of visitors who came to Macau’s casinos.
Travel restrictions have now been lifted and signs of recovery are already visible in the July numbers. Analysts predict a strong rebound in this month’s GGR.
Macau is currently working to secure more travel bubbles with nearby regions; most notably with Hong Kong, but it is a slow process.
Plans have been delayed several times, most recently due to a new outbreak in Hong Kong, which has impeded the continuation of recovery and recovery projects in the region.
Although, according to reports, the city has dealt with the problem as well, it is hoped that talks about facilitating travel will continue.