Macau’s March GGR will be down 42% month-on-month, analysts say
Analysts attribute the fall to tighter Covid-19 countermeasures due to a rise in Covid-19 cases in mainland China.
Macau.- Analysts at investment bank Citi have predicted that Macau’s gross gaming revenue (GGR) for March will be down 42 per cent when compared to February at around MOP4.5bn (US$558.5m). The forecast comes after Macau imposed quarantine restrictions on inbound travellers from Guangdong province and other parts of mainland China, including Shanghai, Tianjin and Beijing areas.
GGR had risen 22 per cent month-on-month in February to MOP7.76bn (US$963.8m). However, the average daily rate in the second week of March declined to MOP114m (US$14.1m). Month-to-date GGR is MOP146m (US$18m), down 55 per cent year-on-year and down 15 per cent when compared to pre-pandemic levels.
From March 13, travellers entering Macau who have stayed anywhere in Zhongshan City and Shenzhen City in Guangdong Province are required to undergo quarantine on arrival at designated locations for a minimum of seven days and a maximum of 14 days from their date of departure from the area concerned.
