Macau's GGR sees a modest increase at the start of the month

According to a recent note by investment bank UBS AG, the figure reflects a 4 per cent increase compared to the July level. 

This growth is believed to be influenced by a ‘favourable calendar mix’, with two weekdays and two weekends contributing to the positive trend.

Analysts Angus Chan, Perry Yeung, Ryan Lau, and Robin M. Farley has noted that this recent performance aligns closely with the seasonal patterns observed between 2015 and 2019, showcasing a month-over-month hike of about 2 per cent. 

The current GGR run rate stands at around 82 per cent of the level observed in the third quarter in 2019, with mass GGR reaching between 110 per cent and 115 per cent of the same quarter in 2019.

Breaking down the data by segments, mass GGR has seen a moderate range of 2 to 4 per cent rise month-over-month, while VIP volume experienced a slight decline ranging from 3 to 5 per cent month-over-month, with VIP hold rates hovering around 3.1 to 3.3 per cent. 

Despite prevailing macroeconomic uncertainties, visitor arrivals have demonstrated resilience, with daily visitation averaging about 103,000 in the final six days of July, up from an average of 96,000 in the first 25 days of the month.

“We expect expansion of IVS eligible cities and a busier event schedule to drive higher visitation in August, which should partly moderate the drag from ongoing law enforcement against illegal money exchangers,” the analysts penned.

At least 18 entertainment events have been scheduled by casino operators for this month and the next two months.