Macau post-Golden Week GGR drops more than expected: Bernstein

Macau gross gambling revenue dropped 53 percent from May 9 to 16, compared with the first eight days of May, slowing more than expected after the Golden Week holiday, Bernstein Research said.

Average daily GGR was MOP236 million, compared with MOP500 million. The past week's GGR was 70 percent down on 2019 and 16 percent from April.

"There have been some new COVID cases emerging in parts of China since last week which may have led to some of the slowdown," the note said.