Macau Registers Total Game Revenue Growth In Week 2
Nearly 40 casinos in Macau reportedly boosted total game sales by about $11.3 million in the seven-day period from, despite continued coronavirus-related travel restrictions.
The figure represents an increase of about 4.5% compared to the previous week’s tally of about $10.9 million, according to a report by Asian Games Brief citing information from renowned Asian brokerage Sanford C Bernstein Limited. The sources also added that while those seeking to travel from Macau to the mainland are subject to rules requiring them to present a negative coronavirus nucleic acid test (NAT) completed within the previous 48 hours, improvements were made as Chengdu, the Chinese metropolitan city, ended its forced lockdown.
Vitali Umanski of Sanford C Bernstein Limited reportedly noted that the latest figures came at a time when Macau began celebrating this year’s edition of the traditional Mid-Autumn Festival, which began on Saturday. In addition, the experienced analyst reportedly explained that only about 16,000 tourists are expected to enter the former Portuguese residence during the three-day holiday period, before describing the recovery prospects for the local casino industry on a week-long Golden Week holiday from the first day of October as “mild.”
Umanski’s statement reportedly read…
“Visits to Macau should be weak until people feel confident about traveling and restrictions are eased. The pace of recovery in total game sales in September and is likely to be slowed by China’s travel policy.”
Reports say Macau’s average daily gross gaming sales fell 53% year-over-year to just $11 million in the first seven days of September. The Hong Kong-based organization also said the figure was 88% lower than the pre-pandemic period , but 30% higher than the average seen in August.
Adding all that up, the brokerage reportedly confirmed that average daily travel to and from Macau rose 10% to 32,300 in the seven-day period in early September, surpassing the 20,000 mark , despite falling well short of the first-half average of 37,000. That was still 43% lower than the previous coronavirus-affected high of 57,000 in May last year, but the average daily visitor to local casinos rose 53% to 21,200 during the same week, the survey said.