Macau Casino Recovery Continues, July Gaming Revenue Tops $1B

Macau cassino revenue surpassed $1 1000000000 inwards a month for the 5th clip this year, further generating optimism in the Chinese enclave.

July receipts gaming revenue (GGR) for the Special Administrative Region’s (SAR) half dozen commercial casino operators totaled 8.44 1000000000000 patacas (US$1.05 billion). That’s to a greater extent than 29 percent best than June 2021, and a 528 percent gather on July 2020, when COVID-19 rendered the enclave nearly devoid of economical activity.

July marked Macau’s second-best monthly GGR performance of the year, behindhand only when May’s $1.3 1000000000 haul.

Through septenary months, 2021 GGR stands at $7.18 billion. That’s 63.9 percent ameliorate than where the securities industry stood at this time in conclusion year, but pile 67 from pre-pandemic 2019.

COVID-19 Concerns Continue

July’s $1.05 billion GGR felled seam unawares of the median value mean(a) forecasting of rough $1.08 billion.

Asia is battling a flare-up of new COVID-19 cases. The upsurge is mostly credited to the to a greater extent contagious delta variant of the coronavirus.

Macau is currently allowing accounting entry only for certain visitors from mainland China, Hong Kong, and Taiwan. Qualifying applicants must not have got traveled to a foreign state within the past tense tercet weeks, and must nowadays a recent negatively charged COVID-19 run at the butt gate.

The restrictions make nearly wiped come out traveling from Hong Kong, a vital marketplace for Macau’s casino resorts. Data shows that arrivals from Hong Kong into Macau are down more than 90 percent in 2021 from 2019.

Uncertainty remains over when Macau’s abut with Hong Kong testament to the full reopen,” Bloomberg reported of June’s gambling casino numbers.

In gain to Hong Kong, Macau reimplemented stricter accounting entry procedures in effect(p) July 30 for travelers arriving from the provinces of Liaoning, Jiangsu, and Sichuan. Because of upticks inwards unexampled COVID-19 cases, air travelers arriving into Macau on flights from those provinces must now submit a negatively charged essay completed within the past 48 hours and undergo a mandatory 14-day quarantine.

Casino Confidence

The spark inward COVID-19 spreading is a setback for Macau’s casinos. But analysts at JPMorgan are non deterred. The financial services truehearted says it expects Aug GGR to be the region’s highest monthly revenue figure to day of the month inwards 2021.

“We anticipate … a post-pandemic in high spirits inward August (+20 percent month-on-month), helping investors to regain trust before the all-important Oct Golden Week,” the JPMorgan billet projected.

Though Macau has modified inward travelling end-to-end 2021, the region’s Statistics and Census Bureau reports that hotel occupancy through and through the first of all vi months was 50.4 percent. Approximately 3.378 1000000 guest check-ins were completed Jan through and through June, upwards o'er 23 percent on the for the first time half of 2020.

Macau casino resorts testament go for the enclave is to a lesser extent restrictive regarding entries come up the fall down Golden Week, single of the to the highest degree important annual holidays in China. Held to each one Oct 1, the pass Golden Week holiday is to fete the 1949 ecesis of the People’s Republic of China.

Typically, most Chinese workers are afforded a weeklong holiday. And many — during a pandemic-free man — opt to make their holiday inwards Macau. In 2019, nearly 1 gazillion travelers ventured into Macau during the Oct Golden Week.

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