Macau GGR rebounding strongly through first weeks of July

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Macaus daily gross gaming revenuefor the first 11 days of July is up 29% compared with June with eased border restrictions between the SAR and Guangdong Province reflected in a rapid rebound.

According to brokerage Bernsteins weekly channel checks, average daily revenue (ADR) from 1 to 11 July was MOP$282 million (US$35.3 million), up 29% from MOP$218 million (US$27.3 million) in June and 16% better off than the last 10 days of June (MOP$244 million) when visitation first started to improve.

ADR is still down 64% versus July 2019, before the COVID-19 pandemic hit. Bernstein analysts said VIP volume is up 25% month-on-month and mass GGR between 26% and 28% from June.

The improvement comes after Macau lifted all mandatory hotel quarantine requirements for visitors from Guangdong Province, with only one city in the southwestern Chinese province of Yunnan now subject to quarantine. The government has also lifted the validity period of COVID-19 tests for those crossing the border into Macau from 48 hours to seven days.

A further uptick in visitation is expected once Macau gives the green light to Hong Kong via a recently announced blue health code scheme.

Bernstein is predicting a near 50% month-on-month improvement by the end of June, with FY2021 GGR tracking for a 144% improvement over 2020 GGR of MOP$60.44 billion (US$7.57 billion).