Macau’s gross gaming revenue (GGR) contracted in the first week of February compared with the same period in January 2021, driven by the continual pressure stirred up by recent Covid-19 outbreaks in China, according to a statement recently published by Sanford C. Bernstein Ltd, as cited in GGRAsia.
The investment research and institutional asset management company forecasts MOP1.5 billion in GGR, equivalent to USD187.8 million, during the first week of February.
This translates to a month-to-date average daily rate (ADR) of MOP215 million, down 17% and 76% from ADR MOP259 million and ADR MOP906 million in the same period in January 2021 and February 2019, respectively.
The brokerage also attributed the month-to-month GGR downtrend…