The gross gaming revenue for the first week of March stood at MOP1.8 billion, an increase of 19% compared to the last week of February, according to the calculations of brokerage Sanford C. Bernstein.
The daily average of MOP257 million for the first seven days of March was recorded, while the month-to-date VIP daily average is estimated to record a slight downturn of up to 3%.
“Macau’s gross gaming revenue for the first week of March reached MOP 1.8 billion, with an average daily rate of MOP257 million, an average 19% higher than in the last week of February,” analysts from Bernstein noted.
According to the brokerage, month-to-date VIP daily average volumes are estimated to be down 2-3% month-to-month, and the “normal win rate and mass is estimated to be up slightly month-to-month.”
The improvement comes after the SAR lifted its border restrictions for all entrants from mainland China. Bernstein expects the city’s GGR to subtly improve during March and April as a consequence.
However, the brokerage added that without changes to the requirement of nucleic acid testing, Individual Visit Scheme or group visa issuance policies, or the opening the borders of Hong Kong, “GGR and visitation will remain depressed.”
Macau casino stocks surged the most they had in nearly two and a half months after the gambling hub reopened for quarantine-free travel from mainland China last month.
Macau has gradually eased quarantine rules on visitors from mainland China, its biggest market, with the final lifting of restrictions occurring on February 22.
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