Slowdown of Macau casino market continues into March

The first eight days of March reportedly saw the 39 active casinos in Macau post aggregated gross gaming revenues that were 79% lower year-on-year at approximately $174.9 million.

According to a report from Inside Asian Gaming citing a filing from brokerage Sanford C Bernstein and Company, the result puts Macau on course to record full-month aggregated gross gaming revenues of around $677.8 million, which would be significantly down on 2019’s March tally of about $3.2 billion.

Coronavirus consequences:

Macau is still recovering from the impacts of last month’s 15-day shutdown as well as the strict travel restrictions engendered by the ongoing coronavirus outbreak and saw its February aggregated gross gaming revenues plummet by 87.8% year-on-year to reach just over $387.2 million.

Continuing constraints:

The research from Sanford C Bernstein and Company analysts Kelsey Zhu, Eunice Lee and Vitaly Umansky reportedly detailed that the recovery of the casino sector in Macau is being particularly hindered by the ongoing near ban that remains in place for visitors arriving from the Chinese mainland.

However, Inside Asian Gaming explained that daily tourist numbers have recently improved by around 60% since late-February to about 8,000 while Macau even managed to crack 11,000 over the weekend with a stronger showing from the VIP segment being aided by higher holds.

Disappointing verdict:

The Sanford C Bernstein and Company filing nevertheless remained downbeat by reportedly pointing to the average 108,000 visitors Macau had managed to attract every day last year in advance of describing the current figures as ‘abysmal’ despite slow improvement.

Reportedly read the analysts’ advice…

“We estimate March potentially to be down between 75% to 80% assuming no significant improvement in visa issuance and travel, which would imply an average daily rate of $20.5 million to $26 million. Hold rate volatility could also impact our estimate. If VIP hold moderates and volumes do not improve, gross gaming revenues could easily be down more than 80%. The operators we have spoken with do not see any clarity on timing of recovery at this time.”

Leave a Reply

Your email address will not be published. Required fields are marked *

More Casinos
5.0 rating
Scatters : 25 Risk free On your first deposit.
5.0 rating
LeoVegas: Get up to €1600 bonus cash + 20 no deposit bonus spins
4.8 rating
Greenplay Casino: Get €25 bonus cash + 25 bonus spins
4.8 rating
Royal Panda: Get 100% bonus up to €100 + 10 freespins on Starburst
5.0 rating
Fruitkings: Get £100 bonus up to £100 + 100 bonus spins
Blood Queen
Blood Queen

Get 100% bonus up to €100 + 10 freespins on Starburst

Rainbow Wilds
Rainbow Wilds

Get 100% bonus up to €100 + 10 freespins on Starburst

Sinister Circus
Sinister Circus

Get 100% bonus up to €100 + 10 freespins on Starburst

1000x Busta
1000x Busta

Get 100% bonus up to €100 + 10 freespins on Starburst

Cheeky Fruits 6 Deluxe
Cheeky Fruits 6 Deluxe

Get 100% bonus up to €100 + 10 freespins on Starburst

Asktheplayer
©Copyright 2020 Asktheplayer.com - Design & Development by https://www.superbotics.com/