Gaming | GGR on a downward trend last week: Bernstein

The average daily gross gaming revenue from July 19 to July 25 was MOP257 million, 14% lower than the MOP300 million recorded the week prior, according to Sanford C. Bernstein Ltd.
As cited in a note seen by GGRAsia, Bernstein analysts Vitaly Umansky, Louis Li and Kelsey Zhu forecast July GGR to be down around “mid-60s of percent compared to July 2019; up approximately 30% month-on-month from June 2021.”
The increase in the forecast GGR was driven by a recovery in visitor volume “following the June travel disruption in Guangdong,” caused by a Covid-19 outbreak.
As new cases have arisen in the neighboring region, the institution noted that the new wave may limit near-term tourist arrivals in the city.
Commenting on cases on the mainland in Nanjing, Jiangsu province, the brokerage stated that these have “raised concerns about a new potential outbreak in Guangdong. So far, it is under control with Covid testing of the entire city of Zhuhai slated to be completed on Tuesday [yesterday].”
Last month, the city saw a decline in GGR after witnessing a month-on-month increase in the preceding three quarters.
Macau only recorded MOP6.54 billion, compared with MOP10.4 billion patacas one year ago.
The decline was due to the outbreak in Guangdong province that resulted in border restrictions and compulsory quarantine measures for those arriving from parts of Shenzhen, Guangzhou and Foshan.