Still, there are inklings that gross gaming revenue (GGR) in Macau is perking up and doing so at a pivotal time.<\/p>\n
\u201cWe expect gross gaming revenue to resume sequential recovery path in July (+30 percent month-on-month) and print a post-pandemic high in August (+20 percent month-on-month), helping investors to regain confidence before the all-important October Golden Week,\u201d according to J.P. Morgan.<\/p>\n
Golden Week, a Chinese national holiday, runs from Oct. 1 through Oct. 7 and is usually one of the busiest times of year in the gaming hub.<\/p>\n
As has been the case over the course of the pandemic, Macau’s near-term fortunes hinge largely on the easing of travel protocols. Owing to China’s policies regarding travel against the COVID-19 backdrop, rising case counts can stymie efforts to further open Macau’s borders.<\/p>\n
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Currently, the SAR is working with Hong Kong on bubble plans, but no firm date is being discussed. On an annual basis, Hong Kong delivers up to 15 percent of visitors to the casino center. Market observers believe positive travel news will unfold in stages, potentially providing multiple catalysts for shares of concessionaires through year-end.<\/p>\n<\/div>\n
\u201cWe\u2019d expect each [travel-easing] step to have a few weeks of gap, hoping to see border\/visa largely normalized by end-2021\/early-2022,\u201d said the JP Morgan team. \u201cLooking at the bright side, this means we may have positive headlines every few weeks into fourth quarter, which could keep the [investor] sentiment afloat,\u201d concludes the J.P. Morgan analysts.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau’s long-awaited gaming recovery may finally be starting to take shape. That’s while shares of concessionaires in the world’s largest casino center still offer value for patient investors, according to one bank. In a recent note, J.P. Morgan analysts point out summer demand is trending in the right direction in the special administrative region (SAR). […]<\/p>\n","protected":false},"author":46,"featured_media":180360,"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 Rebound Showing Signs of Promise, Says J.P. Morgan<\/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