Monday, August 08, 2022

May GGR expected to be down 90 - 95%: Bernstein


Analysts at Bernstein Research expect Macau to report a 90-95 percent year-on-year fall in GGR in the month of May, as the gambling enclave continues to be impacted by Covid-19 travel restrictions. 

In a filing on Monday, the brokerage noted that month-to-date average daily revenue (ADR) is down 94 percent year-on-year compared to May 2019.

Bernstein estimates VIP volume to have been stronger than mass, with revenue driven by a small number of players. 

The brokerage said it did not have any definitive dates on when travel restrictions will improve, but it does expect easing in this regard over the next few weeks - either late May or early June. 

Bernstein’s current GGR forecast for 2020 is a year-on-year decline of 41 percent, followed by a rebound of 88 percent in 2021. 

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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