{"id":22421,"date":"2021-09-08T13:53:40","date_gmt":"2021-09-08T16:53:40","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22421"},"modified":"2026-04-23T15:51:41","modified_gmt":"2026-04-23T18:51:41","slug":"macau-2021-ggr-will-be-down-65-from-pre-covid-levels","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-2021-ggr-will-be-down-65-from-pre-covid-levels","title":{"rendered":"Macau: 2021 GGR will be down 65% from pre-covid levels"},"content":{"rendered":"\n

Fitch Ratings Inc predicts that Macau\u2019s gross gaming revenue (GGR) will be down 65 per cent from 2019 levels, closing close to MOP102.4bn this year.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Fitch Ratings Inc<\/strong>\u00a0has predicted that\u00a0Macau\u2019s GGR will be 65 per cent below\u00a0<\/strong>that of 2019, when the city registered MOP292.4bn (US$36.5bn) in GGR.<\/p>\n\n\n\n

According to analysts,\u00a0this year Macau will reach MOP102.4bn<\/strong>. For the first seven months of 2021, the city reported a total of MOP61.4bn (US$7.7bn) in GGR.<\/p>\n\n\n\n

In April, analysts at Fitch Ratings Inc. said\u00a0Macau GGR could reach half of pre-Covid-19 levels<\/a>. However, the city was affected by\u00a0local cases of Covid-19<\/a>\u00a0and hundreds of cancelled flights. Despite this,\u00a0the government of Macau predicted GGR could reach MOP130bn for 2021<\/strong>, a decline of 44.5 per cent from 2019 levels.<\/p>\n\n\n\n

Analysts made a comparison with Singapore’s gaming area<\/strong>\u00a0and predicted the industry should see a somewhat quicker recuperation because of its high immunization rate and solid domestic demand, and because it is beginning to open travel bubbles<\/a>\u00a0with Germany, Hong Kong and Brunei for vaccinated travellers.<\/p>\n\n\n\n

Deutsche Bank downgrades Macau\u2019s GGR predictions for 2021<\/h2>\n\n\n\n

After a drop in Macau\u2019s GGR for August<\/a> at MOP$4.44bn (US$554.5m), analysts at Deutsche Bank<\/strong> have reviewed their previous forecasts for 2021.<\/p>\n\n\n\n

Deutsche Bank now forecasts full-year GGR of MOP$97bn (US$12.1bn)<\/strong>, down 67 per cent from pre-pandemic levels.<\/p>\n\n\n\n

The change comes after GGR declined by 47.7 per cent month-on-month in August<\/strong>, reaching the lowest monthly GGR figure since September 2020. Analysts had previously predicted Macau\u2019s GGR for the year<\/a> could reach US$19.29bn, up 155 per cent year-on-year.<\/p>\n\n\n\n

Carlo Santarelli<\/strong>, managing director of Deutsche Bank Securities Inc., predicted third-quarter results would see nearly US$2.4bn in gaming results<\/strong> and the fourth quarter figure around US$3.5bn.<\/p>\n\n\n\n

According to Santarelli, US$1.5bn in Q3 will come from the mass-market segment<\/strong> and US$917.9m from VIP tables.<\/p>\n\n\n\n

As for the full-year GGR<\/strong>, US$7.7bn will come from the mass market segment, up 82 per cent year-on-year, while VIP tables will bring in US$4.3bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fitch Ratings Inc predicts that Macau\u2019s gross gaming revenue (GGR) will be down 65 per cent from 2019 levels, closing close to MOP102.4bn this year.<\/p>\n","protected":false},"author":176,"featured_media":21008,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Fitch Ratings Inc. and Deutsche Bank have significantly downgraded their 2021 Gross Gaming Revenue (GGR) forecasts for Macau, citing persistent COVID-19 impacts and travel restrictions. Deutsche Bank now projects MOP97bn, a 67% decline from pre-pandemic levels, with specific breakdowns for mass-market and VIP segments. These revisions highlight ongoing volatility in the region's gaming vertical.","focusai_entities":"Fitch Ratings Inc, Deutsche Bank, Deutsche Bank Securities Inc., Carlo Santarelli","focusai_location":"Macau, Singapore, Germany, Hong Kong, Brunei","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), marketing_crm (0.75), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Concessionaire Strategy Impact","query":"How will the revised GGR forecasts, particularly the segment-specific projections, influence Macau concessionaires' capital allocation and operational strategies for 2022?"},{"label":"Regional Competitiveness Shift","query":"What are the long-term implications of Macau's GGR underperformance, relative to Singapore's projected recovery, on regional iGaming and land-based casino investment flows?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-22421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22421"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22421\/revisions"}],"predecessor-version":[{"id":22462,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22421\/revisions\/22462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21008"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}