Macau’s tourism numbers are starting to show some healthy growth. But that’s not making a big enough difference on the bottom line, as analysts have concluded gross gaming revenue (GGR) for mid-September to be “disappointing.”

Macau’s Special Administrative Region (SAR) saw a 207% increase in visitors from July to August 2020. This is largely due to relaxed travel restrictions between the SAR and neighboring Guangdon province.

Daily visitors were approximately 9,000 at the beginning of August as restrictions started to loosen. That number rose to 15,000 when Guangdong travelers were permitted, and has reportedly reached 18,400 on September 16. That number is expected to continue to grow as the Individual Visit Scheme (IVS) is due to be reinstanted for all of Mainland China on September 23.

Despite this growth, analysts are still disappointed with GGR. Between September 14 and 20, Macau saw revenue of MOP1.8 billion ($225.5 million). That’s estimated to be a 90% drop from the week prior, and an 80% drop year on year, estimates Sanford Bernstein.