GGR of Macau Casinos Rise by 24.3% in May 2021
Macau casinos are using the gradual relaxing of Covid-19 regulations to push up their income. Macau was hit hard by the pandemic in 2020. But things are looking up in 2021.
In May 2021, GGR was 492.2% higher than in May 2020. In 2021 also revenue is rising every month as more and more restrictions are lifted. In May 2021, Macau casinos have earned MOP 10.45 billion. This is a 24.3% increase from April 2021. From January 1st to May 31st, 2021, Macau casinos’ GGR is MOP 33.00 billion. May has been Macau’s best financial month since the start of the Covid-19 pandemic. The massive rise in revenue in May has been attributed to a 5-day long weekend in China during Labour Day.
Financial experts like Derek Choi and Livy Lui have found that Macau’s revenue has grown steadily across all the first five months of 2021. They believe that Macau’s GGR has at present almost reached 50% of the pre-pandemic levels.
The share of the GGR from the mass-market and VIP market has not yet been classified. This data will only be released after the first quarter of the year at the end of June. These figures will give financial analysts a better understanding of the market recovery in Macau.
But behind all these optimistic estimates, there is still some underlying fear. The Morgan Stanley Banking Group has recently reduced its yearly projection of Macau casino GGR’s by 19%. The Group describes their decision as being based on fear regarding the lack of movement to relax travel restrictions from Gong Kong and China mainland to Macau.
There have also been some new clusters of Covid-19 infections in and around mainland China. This might bring in new travel bans and also dampen the enthusiasm of international visitors to travel to Macau. In the present scenario, experts believe that Macau casino will have a GGR of MOP 130.19 billion. But this figure is a 115.4% rise from the values in 2020.