January good news for Macau casinos

The 39 casinos in Macau have reportedly seen their aggregated gross gaming revenues for the first ten days of January trend considerably higher when compared with the same period last month.

According to a report from Inside Asian Gaming, this encouraging development was revealed by international brokerage Sanford C Bernstein Limited after casinos in the former Portuguese enclave chalked up ten-day aggregated gross gaming revenues of approximately $356.7 million. The source detailed that this figure equates to a daily tally of about $35.6 million, which is 13% above the around $31.5 million figure recorded for the analogous December period.

Continuing concern:

However, Sanford C Bernstein Limited analysts Kelsey Zhu, Vitaly Umansky and Tianjiao Yu reportedly declared that the recent trend still represents a decline of 68% year-on-year with VIP takings having crashed by at least 70% and mass-market receipts down by just over 60%. These falls purportedly come as Macau continues to come to terms with the impact of the coronavirus pandemic after sitting through a 2020 in which its finishing aggregated gross gaming revenues dropped by 79.3% to reach slightly beyond $7.5 billion.

Enfeebled expectation:

Based on this most current trend, the specialists reportedly moreover predicted that casinos in Macau are expected to see their aggregated gross gaming revenues for the whole of January fall by around 60% year-on-year to come in at roughly $1.1 billion. But such a figure would nevertheless be 15% higher than the $978.7 million recorded for the whole of December while representing the enclave’s best month since January of 2020 despite being some 64% lower than the $3.1 billion chalked up for the 31-day first month of 2019.

gaming revenuessanford c bernstein limitedvitaly umanskykelsey zhucoronavirustianjiao yu

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