Macau GGR could reach 44 per cent of pre-pandemic levels, analysts say

Sanford C. Bernstein Ltd. forecasts Macau’s GGR is likely to recover 47 per cent year-over-year in 2022.

Macau.- After Macau reported full-year gross gambling revenue of MOP86.86bn (US$10.82bn), analysts have started to make predictions for the year 2022.

This includes Vitaly Umansky, an analyst at Sanford C. Bernstein Ltd., who has predicted Macau’s GGR could recover 47 per cent year-over-year in 2022.

However, the figure will still be only 44 per cent of pre-pandemic levels in 2019.

Analysts also predicted that travel rules between Hong Kong and Macau will begin to ease “at the end of the first quarter or early in the second quarter”. 

It was also stated that the first quarter could be weaker than expected if a new Covid-19 outbreak restricts travel again.

Local media reports have recently informed new Covid-19 cases were discovered in the neighbouring province of Guangdong while authorities in Hong Kong reported 22 new Covid-19 cases were detected in recent hours.

Carrie Lam Cheng Yuet-ngor, Hong Kong Chief Executive, said the long-awaited travel bubble with mainland China will have to wait due to the outbreak of Omicron cases.

The reopening of the border between Hong Kong and Macau was highly expected as Hong Kong has historically accounted for 15 per cent to 20 per cent of Macau’s total gaming revenue.

Mainland China continues to be the only country to have a largely quarantine-free travel bubble with Macau.