Gaming | Nov GGR drops 7.2% month-on-month  

Macau’s gross gaming revenue (GGR) declined by 7.2% in November on a month-on-month basis, according to the latest figures released by the Gaming Inspection and Coordination Bureau (DICJ).
In November, the city registered a GGR of MOP6.75 billion, approximately MOP522 million down from the MOP7.27 billion recorded in the previous month.
From a year-over-year perspective, the GGR last month represented a plunge of 70.5% from the same period last year.
November’s figure represented the first month-on-month dip in GGR since August this year, when the city had begun to see signs of recovery in the gaming sector.
In August, the city registered a GGR of MOP1.33 billion, down by 94.5% compared to the same month last year. The sharp fall was attributed to the economic and tourism repercussions of Covid-19.
Across September and October, the monthly GGR was on a growth trajectory which peaked in October, before the dip in November.
Despite the fall, JP Morgan Securities (Asia Pacific) Ltd regarded the GGR figure in November as “not terrible but not good either.” The statement was cited in a recent article published by GGRAsia yesterday .
November had not delivered the “much-anticipated sequential recovery in GGR versus October,” JP Morgan analysts stated.
In addition, Sanford C. Bernstein Ltd also noted in a written statement that the November GGR had retreated as inbound tourism from Mainland China to the city reached “bottlenecks” — which were associated with visa processing, Covid-19 test requirements, and weakness in VIP volumes.
The up-to-date GGR, the accumulated tally from January to November, amounted to MOP52.6 billion. It represents a sharp fall of 80.5%, year-on-year.
As of now, mainland China is the only source market that has come to a quarantine-free travel arrangement with Macau.
Ever since the reinstatement of the Individual Visit Scheme (IVS) for all tourists from China on September 23, tourist arrivals to Macau have begun to pick up. Staff Reporter