be the worst in terms of losses<\/a> for the gaming hub since it opened to foreign competition in 2002. Additionally, travel restrictions with Hong Kong, mainland China, and Taiwan remain in place, making it difficult to forecast how long the uptick in July turnover will last.<\/p>\n<\/div>\n\u201cAt this stage, we cannot estimate July GGR with any confidence, as we have no clarity on the timing of cross-border travel and individual visit scheme (IVS) resumption,\u201d said Bernstein.<\/p>\n
Morgan Stanley notes Macau concessionaires are likely to post a combined loss of $1 billion for the April through June period, compared with earnings before interest, taxes, depreciation and amortization of $2.4 billion for the same period a year earlier.<\/p>\n
2020: A Lost Year<\/h2>\n
In the wake of COVID-19, analysts widely forecast a better second-half for Macau turnover. But that outlook remains tethered to when travel controls will be lifted. Currently, visitors from mainland China can enter the special administrative region (SAR) without being subject to quarantine. But they are faced with a 14-day quarantine upon their return to the mainland.<\/p>\n
Additionally, travelers going between Hong Kong and the gaming center deal with 14-day healthcare-related seclusion on both sides of their trips, making visits unappealing.<\/p>\n
With limited visibility as to when travel controls will ease, Bernstein estimates Macau GGR will dip 44 percent this year before jumping 96 percent in 2021. But even next year’s projection relies heavily on the restoration of the IVS program and relaxation of travel restrictions.<\/strong><\/p>\nThat forecast is \u201clikely to change depending on the timeliness of the lifting of travel restrictions and visa implementation,\u201d said the research firm.<\/p>\n","protected":false},"excerpt":{"rendered":"
It’s still early, but if the first five days of this month are any indication, July will be kinder to Macau concessionaires than the previous two. That’s as channel checks conducted by Bernstein confirm operators in the world’s largest gaming center averaged daily revenue of $8.76 million from July 1 to July 5. That means […]<\/p>\n","protected":false},"author":46,"featured_media":141118,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\n
Macau GGR Is Showing Signs of Life to Start July After June Slump<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n