Greater China’s gambling enclave posted a 93 percent decline in gross gaming revenue in the month of May, due to continued travel and border restrictions that have limited visitors.
For context, in April, cross-border vehicular traffic fell 89.5 percent year-on-year, while inbound and outbound commercial flights from the Macau International Airport fell 97.3 percent year-on-year to just 162 trips.
According to a note from Bernstein on Monday, gaming revenue in the month of May was driven by a small number of players, which drove significant volatility, particularly in the VIP segment.
That being said, the brokerage believes border restrictions between Macau, HK, and China will be lifted in the next few weeks, adding that the three jurisdictions remain in discussion about easing restrictions.
Should restrictions not be eased in June, Macau will likely see similar GGR results, said the brokerage.