Macau GGR down "significantly" amid China Covid outbreaks

Macau's gross gambling revenue in the past week is down about 32 percent from its levels in December due to increasing travel restrictions in China on renewed clusters of Covid-19, Bernstein Research says.

The firm notes that the average daily revenue in the past week has been about MOP171 million ($21 million), down 71 percent from the same period last year and down "meaningfully" from levels recorded earlier in the month.

Bernstein said it expects the key Lunar New Year holiday to be impacted by the travel restrictions.

It says Macau will continue to see headwinds in H1, but it expects a strong recovery from the second half.

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