Sanford C. Bernstein Ltd has predicted that Macau’s GGR for August could be down 60 per cent compared to August 2019.
Macau.- Brokerage Sanford C. Bernstein Ltd has predicted that gross gaming revenue in August could be affected by a rise in Covid-19 cases in mainland China.
Last week, authorities reported that all visitors that come to Macau from any mainland Chinese city must hold a negative nucleic acid test certificate for Covid-19. According to Alvis Lo Iek Long, Macau’s Health Bureau, the acid test must be issued within 48 hours before travel.
The Macau government previously announced that it will update its health code. Visitors from mainland China will have to provide new information on vaccination status and whether people have previously contracted Covid-19.
As regards casinos, People must wear masks and have their temperature checked. Other venues covered by the countermeasure include hotels and guest houses, restaurants, bars, karaoke lounges, nightclubs, saunas, massage parlours and health clubs.
Analysts said: “As the Covid-19 cases are still spreading across China, and Macau-Hong Kong bubble travel is not likely to reopen soon, we forecast August GGR to be down 60 per cent compared to August 2019.”
Macau average occupancy rate up 23.2 per cent in first half
The Statistics and Census Service (DSEC) reported that 3,378,000 tourists checked into Macau hotels and guesthouses in the first six months of the year. The average hotel occupancy rate reached 50.4 per cent.
The number was up 23.2 per cent from the prior-year period. According to the DSEC, the highest average hotel occupancy rate was registered in May, when Macau also saw the highest GGR of the year to date thanks to the Labour Day break.
The Macao Government Tourism Office (MGTO) director Maria Helena de Senna Fernandes has said she believes Macau may see an average nightly hotel occupancy rate of between 70 per cent to 80 per cent during the summer holiday months of July and August.