Macau Casino Recovery Continues, July Gaming Revenue Tops $1B
Macau casino revenue surpassed $1 1000000000 inward a month for the fifth time this year, farther generating optimism inward the Chinese enclave.
July receipts gaming revenue (GGR) for the Special Administrative Region’s (SAR) Captain Hicks commercial casino operators totaled 8.44 1000000000 patacas (US$1.05 billion). That’s to a greater extent than 29 percent improve than June 2021, and a 528 percent make on July 2020, when COVID-19 rendered the enclave nearly barren of economical activity.
July marked Macau’s second-best monthly GGR performance of the year, behind only if May’s $1.3 one thousand million haul.
Through septet months, 2021 GGR stands at $7.18 billion. That’s 63.9 percent amend than where the securities industry stood at this clip last year, but cut down 67 from pre-pandemic 2019.
COVID-19 Concerns Continue
July’s $1.05 billion GGR fell little of the median average out prediction of roughly $1.08 billion.
Asia is battling a flare-up of young COVID-19 cases. The surge is mostly credited to the to a greater extent contagious delta variant of the coronavirus.
Macau is currently allowing ledger entry only when for sure visitors from mainland China, Hong Kong, and Taiwan. Qualifying applicants must non experience travelled to a strange rural area within the past iii weeks, and must lay out a recent disconfirming COVID-19 psychometric test at the edge gate.
The restrictions have got nearly wiped come out move around from Hong Kong, a vital securities industry for Macau’s cassino resorts. Data shows that arrivals from Hong Kong into Macau are downwards more than 90 percent in 2021 from 2019.
Uncertainty remains over when Macau’s border with Hong Kong will full reopen,” Bloomberg reported of June’s gambling casino numbers.
In add-on to Hong Kong, Macau reimplemented stricter entry procedures efficient July 30 for travelers arriving from the provinces of Liaoning, Jiangsu, and Sichuan. Because of upticks inward young COVID-19 cases, broadcast travelers arriving into Macau on flights from those provinces must at present nowadays a disconfirming essay completed within the past times 48 hours and undergo a mandatory 14-day quarantine.
Casino Confidence
The spark inwards COVID-19 facing pages is a setback for Macau’s casinos. But analysts at JPMorgan are non deterred. The financial services truehearted says it expects Aug GGR to follow the region’s highest monthly revenue list to day of the month in 2021.
“We expect … a post-pandemic high-pitched inwards Aug (+20 percent month-on-month), portion investors to regain trust before the all-important October Golden Week,” the JPMorgan short letter projected.
Though Macau has modified inbound journey throughout 2021, the region’s Statistics and Census Bureau reports that hotel tenancy through the first-class honours degree half-dozen months was 50.4 percent. Approximately 3.378 million guest check-ins were completed January through June, upwardly over 23 percent on the number one half of 2020.
Macau casino resorts testament go for the enclave is to a lesser extent restrictive regarding entries come in the downfall Golden Week, ane of the to the highest degree of import one-year holidays in China. Held each Oct 1, the fall down Golden Week holiday is to celebrate the 1949 ecesis of the People’s Republic of China.
Typically, to the highest degree Chinese workers are afforded a seven-day holiday. And many — during a pandemic-free human beings — opt to take their holiday inwards Macau. In 2019, nearly 1 billion travelers ventured into Macau during the Oct Golden Week.