Macau casinos reopen but the outlook isn’t good
The majority of Macau’s casinos have reopened on a limited basis but business remains low due to travel restrictions in mainland China.
Macau.- Casinos in Macau were allowed to resume operations on Saturday (July 23) at 50 per cent of normal staffing following two weeks of closure due to Macau’s latest Covid-19 outbreak. However, there was very little activity over the weekend and it’s unlikely that the situation will improve while travel restrictions with Zhuhai remain.
People travelling inbound from Zhuhai to Macau must present a certificate showing a negative Covid-19 result issued in the last 48 hours. Those heading the other way need a negative test certificate issued in the last 24 hours and must undergo a seven-day quarantine in a government-designated facility upon arrival.
Macau has reported 1,810 Covid-19 cases since June 19. The government reported five new infections on Saturday but no community cases. In mainland China, 20 provinces, including Guangdong, have reported new Covid-19 cases in recent weeks.
In June, the Statistics and Census Service (DSEC) reported that 381,000 tourists arrived in Macau. The figure was down 36.6 per cent month-on-month and down 28 per cent year-on-year.
Macau 2023 GGR could reach 60% of pre-pandemic levels
Analysts at Morningstar have predicted that Macau’s casino gross gaming revenue (GGR) will reach only 20 per cent of 2019 levels this year. They expect 2023 GGR could rebound to 60 per cent of pre-pandemic levels.
The US financial services firm had previously predicted that Macau’s GGR for this year could reach 40 per cent of 2019 levels but it lowered its forecast amid the latest outbreak of Covid-19 cases.
