Analysts expect Macau uptick during October Golden Week
If Covid-19 remains under control in Macau, analysts believe meaningful business will return to casinos during the October Golden Week.
Macau.- With no new Covid-19 cases reported in recent days, analysts are more upbeat that there could be an uptick in casino business in Macau during the all-important October Golden Week. As long as there are no more community outbreaks of Covid-19, analysts expect to see business pick up after the dire GGR reported for July.
When the latest Covid-19 outbreak began, casinos initially remained open but with nearly no business. They eventually closed for two weeks in July, reopening with limited staffing on July 25. In the past 72 hours, there have been no new cases, so analysts believe border restrictions could be relaxed this month.
Macau’s border with Zhuhai in Guangdong province is not closed, but people wishing to cross into Zhuhai must first undergo a seven-day quarantine at a Zhuhai government facility.
Analysts at JP Morgan Securities (Asia Pacific) Ltd said: “Business is likely to remain bleak for a while until mainland visitors regain the confidence to visit the city.”
A week ago, Joseph Greff from JP Morgan Securities, in an interview with business news outlet CNBC, said the gaming industry might rebound quickly once inbound travel restrictions are relaxed.
