The foremost calendar week inward Oct is typically i of the busiest times in Macau, as tens of thousands of mainland Chinese residents flock to the enclave for the one-year Golden Week holiday. But the 2021 interpretation of the seven-day fete was a bust.
Gross gaming revenue (GGR) from the hexad licensed commercial message gambling casino operators totaled 4.37 1000000000 patacas (US$545 million). That’s 42 percent let down than what the casinos kept from gamblers inward October 2020.
October’s $545 1000000 win is the rack up month of the twelvemonth to day of the month for Macau’s gaming industry, which is the world’s richest gambling market.
COVID-19 was one time over again to fault for the poor performance. A small outbreak of unexampled coronavirus cases detected inwards later(a) September, paired with Macau’s stringent response policy, resulted inward the region tightening its borders to mainlanders. Though only if a fistful of positively charged individuals were identified, and no more subsequent additional cases were found during the region-wide testing blitz, Macau and neighboring Zhuhai opted to postponement their moderation of ledger entry and issue protocols.
The figure of visitors who traveled to Macau during the October 1-7 Golden Week was push down almost 94 percent from an already small 2020 holiday performance.
Investors Unrattled
October was scary unsound for Macau’s 6 casino giants, but Wall Street reacted positively. That’s presumptively due to the consensus October forecast from gaming analysts focussed on Asia and Macau calling for a year-over-year GGR go down of 42 percent.
The threesome US-based gambling casino operators invested inward Macau all saw their shares pee-pee considerable gains on Monday. Las Vegas Sands was upwards almost half dozen percent, MGM Resorts 2.8 percent, and Wynn Resorts 4.3 percent. Melco Resorts, headquartered inwards Hong Kong but publically traded on the Nasdaq, climbed 5.5 percent.
Along with a slightly better-than-expected October, Monday’s gillyflower gains could also be due to visitors reverting to Macau.
Zhuhai ended its 14-day quarantine demand for people reverting from Macau in effect(p) October 19. Since then, Macau’s cassino resorts make seen increased demand.
The day-to-day ordinary of visitors entering Macau during Golden Week was a dismal 1,166. Fast-forward to the last-place hebdomad of October, and the Macau Government Tourism Office reveals that visitor counts were to a greater extent than 20,000 people per day after Zhuhai eased quarantine restrictions.
Looking Ahead
Through 10 months, 2021 Macau GGR totals a minuscule to a greater extent than $9 billion, rough 57 percent meliorate than 2020 Jan through and through October. However, through 10 months inward pre-pandemic 2019, Macau casinos won just about $30.8 billion.
The hereafter of Macau’s casino hub testament for the most part depend on the enclave government. An intensive review of all aspects of the gaming manufacture is underway, as the sextet operating licenses are readiness to expire next June.
COVID-19 continuing to impede that operation mightiness termination in Macau electing to expand the concessions. Macau’s 2002 gaming jurisprudence allows the government activity to perform so ane clip for a full point lasting upwards to Phoebe years — or June 2027.
This news is curated to you by the 918Kiss Malaysia.