Macau’s gross gambling revenue dropped in the first week of February to MOP1.5 billion ($189 million) due to increased travel restrictions in China, according to Bernstein Research.
The Average Daily Rate was MOP215 million, down about 17 percent from January levels.
Bernstein points out that the week before Chinese New Year is traditionally soft in Macau as visitors delay trips to the holiday. However, expectations are low for this season due to the renewed Covid-19 cases.
For the month, the firm expects GGR to be down in the high 60s from 2019 levels.