Benjamin Toh Hup Hock, chief financial officer (CFO) at SJM Holdings Ltd, has said Macau’s GGR could reach 60 per cent of pre-pandemic levels if the city eases travel restrictions with Hong Kong in the coming months.<\/p>\n\n\n\n\n\n\n\n
Macau.- While the government of Macau has predicted that\u00a0GGR for 2022 will be MOP130bn (US$16.2bn)<\/strong>, Benjamin Toh Hup Hock, chief financial officer (CFO) at SJM Holdings, reckons the figure could be bigger if Macau eases travel restrictions soon.<\/p>\n\n\n\n He said: “If the mainland China processing of travel permits for Hong Kong and Macau is resumed in the third quarter of 2022, plus the Macau-bound package tours can also resume at the same time, the gaming revenue of Macau can recover to around 60 per cent of 2019 level.”<\/p>\n\n\n\n However, he said it would be difficult to see a return of international customers before 2022\u00a0<\/strong>due to the low rate of vaccination against Covid-19 when compared to cities like Singapore. At last count, only 55.8 per cent of Macau\u2019s population has been fully vaccinated<\/strong>.<\/p>\n\n\n\n In Macau’s budget plan, the government estimates that\u00a0gaming tax income will reach MOP45.5bn in 2022<\/strong>. The government said it will use the city\u2019s accumulated fiscal reserves to support expenditure on social welfare and public infrastructure projects.\u00a0<\/p>\n\n\n\n Ho Iat Seng, Macau\u2019s chief executive<\/strong>, has said the government is still negotiating with mainland China on\u00a0resumption of the e-visa programme<\/a>. Mainland China continues to be the only country to have a\u00a0largely quarantine-free travel bubble<\/a>\u00a0with Macau.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Benjamin Toh Hup Hock, chief financial officer (CFO) at SJM Holdings Ltd, has said Macau’s GGR could reach 60 per cent of pre-pandemic levels if the city eases travel restrictions with Hong Kong in the coming months.<\/p>\n","protected":false},"author":176,"featured_media":22027,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SJM Holdings' CFO, Benjamin Toh Hup Hock, projects Macau's GGR could recover to 60% of 2019 levels if travel restrictions with Hong Kong and mainland China ease in Q3 2022, despite the government's lower MOP130bn forecast. The recovery of international visitors is hampered by Macau's low vaccination rate, while negotiations for e-visa resumption with mainland China continue.","focusai_entities":"SJM Holdings Ltd, Benjamin Toh Hup Hock, Ho Iat Seng","focusai_location":"Macau, Hong Kong, China, Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR impact if Q3 delayed?","query":"What is the projected GGR impact on Macau's gaming vertical if the anticipated Q3 2022 travel easing with Hong Kong and mainland China is further delayed?"},{"label":"SJM Holdings capital expenditure?","query":"How will SJM Holdings Ltd adjust its capital expenditure and operational budgets in response to these GGR recovery projections and the ongoing regulatory uncertainties regarding travel?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-24645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24645","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=24645"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24645\/revisions"}],"predecessor-version":[{"id":24651,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24645\/revisions\/24651"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22027"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}