{"id":22781,"date":"2021-09-20T12:07:27","date_gmt":"2021-09-20T15:07:27","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22781"},"modified":"2026-04-23T15:33:04","modified_gmt":"2026-04-23T18:33:04","slug":"analysts-lower-macau-ggr-predictions-again","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/analysts-lower-macau-ggr-predictions-again","title":{"rendered":"Analysts lower Macau GGR predictions again"},"content":{"rendered":"\n

Morgan Stanley now predicts that Macau\u2019s gross gaming revenue (GGR) will only reach 33 per cent of pre-pandemic levels this year.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Morgan Stanley<\/strong>\u00a0has again lowered its forecast for Macau\u2019s GGR for 2021\u00a0\u00a0<\/strong>due to the zero-tolerance policy towards Covid-19 in both mainland China and Macau. According to analysts,\u00a0Macau’s GGR will reach\u00a0<\/strong>MOP96.77bn (US$12bn), 33 per cent of that seen in 2019.\u00a0<\/p>\n\n\n\n

That figure would still be up 60 per cent when compared to the MOP60.44bn achieved in 2020<\/strong>, which bore the brunt of the pandemic’s impact. <\/p>\n\n\n\n

Morgan Stanley now predicts that a recovery to pre-pandemic levels may now take until 2023 <\/strong>due to the “lower efficacy for certain vaccination” and the effect of the Delta variant.\u00a0<\/p>\n\n\n\n

For 2021, analysts expect market-wide, corporate EBITDA to be US$1.18bn, <\/strong>down from a previous prediction of US$2.89bn. In 2019, Macau corporate EBITDA was nearly US$9.25 bn. <\/p>\n\n\n\n

Analysts predict that\u00a0Macau will see only 25 per cent of the daily visitor arrivals recorded in 2019\u00a0<\/strong>as it is still unknown when the city would remove its\u00a0travel restrictions\u00a0<\/strong>for people coming from places beyond mainland China.<\/p>\n\n\n\n

Analysts at Fitch Ratings Inc\u00a0<\/strong>have predicted\u00a0Macau\u2019s GGR<\/a> will be down 65 per cent from 2019 levels, closing close to MOP102.4bn this year.<\/p>\n\n\n\n

Sanford C. Bernstein Ltd<\/a>\u00a0has recently predicted that won’t happen before 2022. It added: \u201cLonger term, Individual Visit Scheme eVisa, group visa restart, and Hong Kong travel resumption will be necessary to drive gross gaming revenue (GGR) upwards.\u201d<\/p>\n\n\n\n

Macau to revise 2021 GGR forecast<\/h2>\n\n\n\n

Lei Wai Nong<\/strong>, Macau\u2019s secretary for economy and finance has said that Macau is revising GGR forecasts for the year <\/strong>for the city\u2019s revised budget, which will be submitted to the Legislative Assembly.<\/p>\n\n\n\n

The announcement was made after the city recorded\u00a0GGR or MOP$4.44bn (US$554.5m) for August<\/a>, down 47.7 per cent month-on-month and the lowest monthly GGR figure since September 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Morgan Stanley now predicts that Macau\u2019s gross gaming revenue (GGR) will only reach 33 per cent of pre-pandemic levels this year.<\/p>\n","protected":false},"author":176,"featured_media":18881,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Morgan Stanley has further reduced its 2021 Gross Gaming Revenue (GGR) forecast for Macau to 33% of pre-pandemic levels, citing China's zero-tolerance COVID-19 policy and the Delta variant. This revision, also echoed by Fitch Ratings and Sanford C. Bernstein Ltd, projects a recovery to 2019 levels may not occur until 2023, prompting Macau's Secretary for Economy and Finance, Lei Wai Nong, to announce a revision of the city's official GGR forecast for its budget.","focusai_entities":"Morgan Stanley, Fitch Ratings Inc, Sanford C. Bernstein Ltd, Lei Wai Nong","focusai_location":"Macau, China, Hong Kong","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), operator_casino (0.98), investor_analyst (0.99), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Macau Policy Adjustments?","query":"What specific policy adjustments or stimulus measures is the Macau government considering to mitigate the GGR decline and accelerate recovery beyond current projections, particularly regarding travel restrictions?"},{"label":"Operator Financial Impact?","query":"How do the revised GGR and EBITDA forecasts impact the capital expenditure plans, debt covenants, and liquidity positions for major concessionaires operating in Macau?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-22781","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\/22781","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=22781"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22781\/revisions"}],"predecessor-version":[{"id":22801,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22781\/revisions\/22801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18881"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}