• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 24 May 2022
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Macau near term “looks bleak” with February GGR to fall 95%: Bernstein

Newsdesk by Newsdesk
Wed 12 Feb 2020 at 03:58
Carlos Eduardo Coelho: The passion and the law
53
SHARES
1.1k
VIEWS
Print Friendly, PDF & Email

Gross gaming revenue in the Macau SAR is likely to fall by more than 95% year-on-year in February given the 15-day closure of all casinos and the strong possibility the shut-down order will be extended through the end of the month.

The prediction was offered by brokerage Bernstein in a Monday note which estimated Macau’s GGR during the four days casinos were open at the start of this month at MOP$800 million to MOP$1 billion – down 75% year-on-year and 68% sequentially.

However, with GGR of zero in the seven days since and the government still non-committal on whether casinos would be allowed to re-open after 15 days, analysts Vitaly Umansky, Eunice Lee and Kelsey Zhu believe February GGR is highly likely to finish down by more than 95% compared with the same period in 2019.

“Forecasts for the near term (i.e. 1H 2020) are largely guesses at this time, with the biggest variables being when casinos reopen, and even more importantly, when travel restrictions from China will be lifted,” they said.

“We estimate February to be down over 95%, assuming the casinos stay closed for the rest of the month.

“China has put in travel restrictions across much of the country and many businesses remain closed or reduced working hours. A growing number of countries have been implementing travel restrictions on entrants coming from China and airlines are significantly reducing or eliminating scheduled flights.

“China stopped all group travel (including to Macau) and stopped the issuance of IVS visas – the reversal of these restrictions will be key for resumption of business in Macau.”

While Bernstein noted that there were mixed views on how lethal the Coronavirus outbreak actually is – one expert last week stated the mortality rate outside of mainland China was no worse than the common cold – the analysts added that the growing number of infections and fatalities on the mainland means the economic impact on China and impact on travel will be worse than SARS.

“For Macau, the near term looks bleak,” they said, “but we see a solid recovery in place in 2H followed by a strong 2021.”

RelatedPosts

Legislative Assembly passes bill widening application of Macau’s tourism tax

Macau visitor arrivals up 15.2% month-on-month in April

Mon 23 May 2022 at 00:07
Macau to open borders to Portuguese nationals from 27 May

Macau to open borders to Portuguese nationals from 27 May

Mon 23 May 2022 at 00:04
Melco “promoting economic diversification” with launch of new family attraction at Macau’s Studio City

Melco “promoting economic diversification” with launch of new family attraction at Macau’s Studio City

Fri 20 May 2022 at 06:13
Macau ready to amend financial laws to allow for introduction of China’s Digital RMB

Utilization of Digital RMB in Macau casinos could see China relax capital controls: Bernstein

Fri 20 May 2022 at 05:50
Load More
Tags: BernsteinCoronavirusGGRgross gaming revenueMacauSARSVitaly Umansky
Share25Share3
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Oz Casinos: What now?

Editorial: Does the foreigner-only casino model work?

by Ben Blaschke
Thu 28 Apr 2022 at 15:28

The COVID-19 pandemic, along with the international border closures it forced, is one of a number of recent headwinds to...

Oz Casinos: What now?

Oz Casinos: What now?

by Ben Blaschke
Thu 28 Apr 2022 at 15:14

With three inquiries into Crown Resorts completed, a review into Star Entertainment Group underway and a litany of damning findings...

Off Track: AUSTRAC’s AML Failures

Off Track: AUSTRAC’s AML Failures

by Ben Blaschke
Thu 28 Apr 2022 at 13:16

Australia’s anti-money laundering watchdog has launched civil proceedings against Crown Resorts in what appears to be a reaction to its...

Locals Game

Locals Game

by Ben Blaschke
Thu 28 Apr 2022 at 13:05

IAG recently spoke with Shaun McCamley, former President at integrated resort The Grand Ho Tram Strip on Vietnam’s south-east coast,...

Related Posts

Class action launched against Star Entertainment Group

Star Entertainment Group names interim Chairman and CEO following latest boardroom casualty

by Ben Blaschke
Mon 23 May 2022 at 11:27

Australia’s Star Entertainment Group has named director Ben Heap as interim Chairman and Group Executive – Operations Geoff Hogg as interim CEO after Executive Chairman John O’Neill announced last week that he was stepping down. Both will take on their...

New problem gambling self-help app launched in Victoria

New problem gambling self-help app launched in Victoria

by Newsdesk
Mon 23 May 2022 at 11:21

The Victorian Responsible Gambling Foundation has unveiled a new app aimed at providing those experiencing gambling harm access to self-help. According to information released Monday, the “Reset” app – funded by a AU$200,000 (US$142,000) grant from the Victorian state government...

69 year-old food supplier in apparent suicide at Venetian Hotel resort loading dock

69 year-old food supplier in apparent suicide at Venetian Hotel resort loading dock

by Pierce Chan
Mon 23 May 2022 at 11:11

On Saturday afternoon (May 21), a suspected suicide was discovered in Macau's Cotai district. A 69-year-old man surnamed Lam was found hanged in the Venetian Hotel near the loading dock. Police have advised that the man was the owner of...

2021: Japan IR – Crunch time

Japan Casino Regulatory Commission taking public comments on licensing criteria

by Shintaro Kamimura
Mon 23 May 2022 at 05:48

The Japan Casino Regulatory Commission opened public comments on 19 May regarding screening standards for proceedings such as casino licensing based on the 2016 Act on Promotion of Development of Specified Complex Tourist Facilities Areas. Current screening criteria for casino...


Simple Play

IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • Contributors
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About
  • 中文
  • 日本語

© 2005-2022
Inside Asian Gaming.
All rights reserved.