The first seven days of February have seen gaming revenues across Macau slow, with brokerage Sanford C Bernstein estimating a 17% decline versus January.
Providing their regular weekly update based on recent channel checks, analysts Vitaly Umansky and Tianjiao Yu said GGR between 1 and 7 February 2021 was around MOP$1.5 billion or MOP$189 million per day, down 17% from January GGR of MOP$8.02 billion or MOP$259 million per day.
The figure also represented a 74% decline versus the same week in February 2019 – casinos were closed for part of the same period in 2020 – when daily revenues were MOP$906 million.
The analysts noted that travel from mainland China continues to be subdued given recent outbreaks of COVID-19.
“Additionally, the week prior to Chinese New Year is generally softer in Macau as trips are delayed to the holiday period and after the holiday,” they said, noting that CNY starts from 12 February.
“China has been instituting larger scale lockdowns and urging limited travel during the holiday period. The travel impediments will lead to reduced visitation into Macau for the next few weeks at least, with Chinese New Year visitation being impacted.”
February GGR is estimated to decline in the high 60% range for all of February when compared with February 2019 levels.
