Macau forecasts US$16bn GGR for 2021

Macau forecasts US$16bn GGR for 2021

Authorities in the SAR forecast an increase in visitors for 2021 and a slow recovery for the gaming industry.

Macau.- The authorities in the SAR have presented the 2021 fiscal budget to the Legislative Assembly.

According to estimations in the budget, Macau expects to receive 14 million tourists from mainland China and Hong Kong in 2021. It is estimated that casino gross gaming revenue (GGR) will reach MOP130bn (US$16.28bn).

Currently, anyone wishing to visit Macau via Hong Kong, must have a Covid-19 test certificate issued within 24 hours of arrival and then undergo a 14-day quarantine. That’s had a major impact on tourism but authorities expect things to change especially if a vaccine is soon available.

Macau’s annual visitor arrival tally for this year is expected to be below 6 million, according to tourism chief Maria Helena de Senna Fernandes.

But numbers could double that next year, the tourism office hopes. The budget plan said: “According to estimates from Macao Government Tourism Office (MGTO); the Statistics and Census Service; and the Gaming Inspection and Coordination Bureau, the tourist arrivals from mainland China and Hong Kong are expected to reach 14 million for next year…”

It added: “As long as mainland China and Hong Kong tourists are coming into Macau [during 2021], an average daily gross gaming revenue at MOP350 million should be achievable. And subsequently, we have forecast the Macao SAR’s gross gaming revenue for next year to be MOP130 billion.”

However, despite an uptick in visitors, a recovery of Macau’s economy will be “a long process”, authorities said.

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