Gaming | Average daily revenue disappoints, even as visitor arrivals grow

Average daily gross gaming revenue at Macau casinos disappointed in September, even as visitor arrivals showed growth.
That is according to analysts at Sanford C. Bernstein, which estimated that gross gaming revenue stood at MOP1.8 billion patacas between September 14 and 20.
Meanwhile, for the first 20 days of September, the average daily rate was about MOP90 million, down 88% from a year earlier, but more than double that of last month.
Year to date gross gaming revenue sits at MOP36.4 billion patacas, down by 81.6% compared to a year earlier on account of travel restrictions still in force in Macau’s major visitor source markets.
Travel endorsements to Macau for residents of Guangdong Province resumed late last month. The policy will be rolled out to the rest of the mainland starting from today, although the first batch of visitors are not expected before Golden Week, starting October 1.
Macau welcomed fewer than 30,000 visitors last weekend, barely more than a weekend earlier, or any other since travel restrictions began to ease in late-August.
That being said, because of the low comparison base, the number of visitor arrivals to Macau still grew threefold between July and August as travel restrictions involving residents of mainland China were gradually eased. DB