Macau GGR will reach US$12.5bn this year, according to Wynn Macau

Macau GGR was down 9 per cent in the first week of January.
Macau GGR was down 9 per cent in the first week of January.

Linda Chen, Wynn Macau Executive Director, said she believes Macau’s GGR for 2022 will be MOP100bn (US$12.5bn).

Macau.- Linda Chen, Wynn Macau executive director, believes Macau’s gross gaming revenue will reach MOP100bn (US$12.5bn) this year as long as the Covid-19 pandemic is under control.

She told local media that the new year’s tourism figures were a “good start” and said the outlook for January was positive.

She also expressed confidence that Wynn will win new concessions in the upcoming tender process. Macau’s current casino licences are due to expire in June 2022.

Macau has reported full-year gross gambling revenue of MOP86.86bn (US$10.82bn) in 2021, only 30 per cent of 2019 levels.

Analysts at JPMorgan expect Macau’s gross gaming revenue to recover further in 2022, reaching about US$18.5bn, half its pre-pandemic level, thanks to further loosening of tourism policies in the first quarter and tourism to the Greater Bay Area.

Bernstein made a similar forecast, projecting 2022 GGR to be around 59 per cent of 2019 levels.

The Macau Government Tourism Office (MGTO) is also confident the Chinese New Year Golden Week will be better than the year before.

MGTO Director Maria Helena de Senna Fernandes told Chinese Radio Ou Mun Tin Toi that authorities expect 40,000 visitors daily and revealed the government is planning several large-scale events.

This year the Chinese New Year period will be between February 1 and February 3. 

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