Daily Macau April GGR poss 13pct dip on March: brokerage

April’s average daily rate of casino gross gaming revenue (GGR) in Macau is likely to be down 13 percent month-on-month from March, says a Monday note from brokerage Sanford C. Bernstein Ltd, citing as a factor “restrictive travel and border controls” amid Covid-19 cases on the Chinese mainland.

“The figure could drop if further travel tightening occurs,” stated analyst Vitaly Umansky. March’s GGR was already the lowest since September 2020.

“April’s GGR – and potentially May – is likely to continue” a recent trend of weakness, said Mr Umansky.

He added: “Shanghai and Changchun – with approximately 35 million in population – are still in full or partial lockdown as of today and other areas have partial lockdowns.”

He also noted that travellers to Macau from next-door Guangdong province must – with effect from March 18 – have a Covid-19 test within 24 hours prior to entry, and Macau had “reaffirmed no near-term relaxation on this”.

Sanford Bernstein said – citing channel checks – it estimated Macau’s GGR for April 1 to 10 was MOP1 billion (US$123.8 million), with an average daily rate so far, of MOP100 million. That would be down about 64 percent versus April last year.

Source: https://www.ggrasia.com/daily-macau-april-ggr-poss-13pct-dip-on-march-brokerage/