VIP and mass volume saw an increase in the first week of August, with weekly GGR (August 1-6) reaching MOP4.5 billion, according to a note from Bernstein on Monday.
Month to date ADR reached MOP750 million, which was 1 percent higher compared to July ADR and 28 percent over the prior-year period.
Assuming an ADR GGR of MOP740 to 760 million for the remainder of the month, August GGR is estimated to reach MOP23 to MOP23.5 billion, representing a year-on-year increase of 22 to 25 percent, said Bernstein.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
The local government has decided to extend tax incentives for the two casinos facing the economic challenges of the pandemic through the end of 2020. This two-month extension is estimated to reduce tax intake by about 7.3 million rubles (US$96,000).
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.