December average daily gaming revenues not showing a pick-up in results
Thursday 10 de December 2020 / 09:15
⏱ 1 min read
(Macau).- Sanford C. Bernstein analysts indicate in a note that so far December average daily revenues remain ‘soft’ and lower than those reported in the month prior.
Gross gaming revenues in November showed a 7 per cent improvement from October, reaching some MOP6.7 billion (US$845 million), and the lowest monthly year-on-year drop since January, a 70 per cent fall.
However according to the brokerage average daily revenues between December 1 and 6 are trending at MOP200 million, values 72 per cent lower than in the same period last year and 11 per cent lower than last month.
At the same time, month to date VIP gaming volume is estimated to be 80 per cent lower than the same period last year, with lower than normal win rates, with mass gaming 60 per cent lower.
In the end, December is expected to finish with gaming revenues 60 to 70 per cent lower than last year, depending on visitation and visa processing.
Daily entry and arrivals in the SAR are now trending at some 40,000 per day, with Bernstein expecting visitation to slowly increase in the following months as tourism visas procedures for mainland residents becomes more expeditious.
Individual visas for mainland residents were reinstated since September 23, however, it still takes about seven to 10 days applications to be approved.
‘The key jump in visitors will come when visa processing becomes the same day and e-kiosk again,’ the brokerage indicated in a note.
At the same time, the brokerage sees the new bump in Hong Kong Covid-19 cases as dashing any hopes for a near travel opening between the SARs.
Categoría:Gaming
Tags: Sin tags
País: Macao
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