Slight September progress for Macau casinos
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Almost 40 casinos in Macau managed to earn $11.3 million in gross gaming revenues for the seven days from September 4. This figure is an increase of 4% on the previous week's $10.9 million. Chengdu has ended its enforced lockdown.
Vitaly Umansky from Sanford C Bernstein Limited is an expert on the Macau casinos. He claims that only around 16,000 tourists are expected to enter Macao during the Mid-Autumn Festival. The recovery prospects for the local casino industry going into the Golden Week break from the first day of October are 'tepid'.
Macau's average daily aggregated gross gaming revenues for the first seven days of September crashed by 53% year-on-year to $11 million.
Average daily travel into and out of Macau for the initial seven days of September increased by 10% sequentially to 32,300. Average daily visitation for local casinos over the same week-long period rose by 53% to 21,200.
September gaming revenues for Macau casinos are likely to be 87% lower than the previous year. However, the figure will come off the back of a 32% improvement in average daily receipts.
