Macau Casinos Win Just $545M in October, as Holiday Golden Week Lays Egg
The for the first time hebdomad in Oct is typically I of the busiest times inwards Macau, as tens of thousands of mainland Chinese residents fold to the enclave for the yearbook Golden Week holiday. But the 2021 rendering of the weeklong fete was a bust.
Gross gaming revenue (GGR) from the half a dozen licensed commercial message casino operators totaled 4.37 billion patacas (US$545 million). That’s 42 percent take down than what the casinos kept from gamblers in Oct 2020.
October’s $545 gazillion win is the rack up month of the twelvemonth to engagement for Macau’s gaming industry, which is the world’s richest play market.
COVID-19 was one time once more to rap for the poor performance. a small irruption of new coronavirus cases detected inward later(a) September, paired with Macau’s stringent response policy, resulted inwards the part tightening its borders to mainlanders. Though only when a smattering of positively charged individuals were identified, and no more subsequent additional cases were found during the region-wide testing blitz, Macau and neighboring Zhuhai opted to hold their easing of ledger entry and outlet protocols.
The identification number of visitors who traveled to Macau during the Oct 1-7 Golden Week was land almost 94 percent from an already modest 2020 holiday performance.
Investors Unrattled
October was scary uncollectible for Macau’s half a dozen casino giants, but Wall Street reacted positively. That’s presumably due to the consensus October forecast from gaming analysts focused on Asia and Macau calling for a year-over-year GGR decline of 42 percent.
The three US-based cassino operators invested inwards Macau all saw their shares puddle considerable gains on Monday. Las Vegas Sands was upward almost Captain Hicks percent, MGM Resorts 2.8 percent, and Wynn Resorts 4.3 percent. Melco Resorts, headquartered inwards Hong Kong but publically traded on the Nasdaq, climbed 5.5 percent.
Along with a more or less better-than-expected October, Monday’s buy in gains could also live due to visitors returning to Macau.
Zhuhai ended its 14-day quarantine requirement for people reverting from Macau in force(p) October 19. Since then, Macau’s cassino resorts make seen increased demand.
The daily ordinary of visitors entering Macau during Golden Week was a dismal 1,166. Fast-forward to the lastly calendar week of October, and the Macau Government Tourism Office reveals that visitor counts were more than 20,000 people per day.
Looking Ahead
Through 10 months, 2021 Macau GGR totals a small to a greater extent than $9 billion, rough 57 percent best than 2020 Jan through and through October. However, through and through 10 months inwards pre-pandemic 2019, Macau casinos won more or less $30.8 billion.
The futurity of Macau’s gambling casino hub testament largely depend on the enclave government. An intensive critique of all aspects of the gaming manufacture is underway, as the sixer operating licenses are place to expire next June.
COVID-19 continuing to impede that cognitive operation mightiness ensue inwards Macau electing to stretch the concessions. Macau’s 2002 gaming law of nature allows the governance to fare so one time for a full point lasting upwardly to v years — or June 2027.
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