{"id":24698,"date":"2021-11-19T10:47:49","date_gmt":"2021-11-19T13:47:49","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24698"},"modified":"2026-04-23T13:39:50","modified_gmt":"2026-04-23T16:39:50","slug":"sp-macau-ggr-could-return-to-pre-pandemic-levels-by-2023","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sp-macau-ggr-could-return-to-pre-pandemic-levels-by-2023","title":{"rendered":"S&amp;P: Macau GGR could return to pre-pandemic levels by 2023"},"content":{"rendered":"\n<p>The credit assessment agency Standard &amp; Poors has predicted Macau&#8217;s GGR will return to 2019 levels no earlier than 2023.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-\u00a0<strong>Macau&#8217;s Gross Gaming Revenue (GGR)<\/strong>\u00a0won&#8217;t return to pre-pandemic levels until 2023, according to analysts at Standard and Poor&#8217;s Global Ratings. The credit assessment agency predicted<strong>\u00a0<\/strong>that <strong>Macau&#8217;s GGR for 2022 will probably be between 60 per cent to 70 per cent of 2019 levels<\/strong>\u00a0as China\u2019s zero-Covid policy look set to continue.<\/p>\n\n\n\n<p>Mass GGR for 2022 will be between 70 per cent to 80 per cent of 2019 levels while<strong>\u00a0VIP GGR could reach around 40 per cent to 50 per cent<\/strong>\u00a0of pre-pandemic levels.<\/p>\n\n\n\n<p><strong>Aras Poon, an associate director at the rating house<\/strong>, said: &#8220;Macau\u2019s GGR was likely to stay weak next two quarters, and pick up more meaningfully from the second half of 2022.&#8221;<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-continues-negotiating-with-mainland-china-on-e-visas\">Authorities in Macau<\/a>\u00a0are in talks with mainland China about\u00a0<strong>restarting the electronic version of the Individual Visit Scheme (IVS)<\/strong>\u00a0but it seems nothing will change in the short term.\u00a0The IVS was suspended completely at the beginning of the Covid-19 pandemic and later reintroduced <strong>only through in-person applications<\/strong>, which\u00a0<strong>can take up to two weeks to be approved<\/strong>.<\/p>\n\n\n\n<p>For S&amp;P, Macau&#8217;s revision of the city\u2019s gaming law will also play a key role in the rebound of Macau&#8217;s economy. It believes Macau&#8217;s six casino operators will keep their gaming licences but expects authorities will end the <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-likely-to-end-sub-concessions-system-for-casino-operators\">sub-concession system<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The credit assessment agency Standard &amp; Poors has predicted Macau&#8217;s GGR will return to 2019 levels no earlier than 2023.<\/p>\n","protected":false},"author":176,"featured_media":16900,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Standard & Poor's Global Ratings projects Macau's GGR will not recover to 2019 levels until 2023, attributing the slow rebound to China's zero-Covid policy and the protracted restart of the Individual Visit Scheme. The credit agency anticipates 2022 GGR to be 60-70% of pre-pandemic figures, with VIP GGR significantly lagging. Furthermore, the impending revision of Macau's gaming law, particularly the potential termination of the sub-concession system, is identified as a critical factor influencing the market's recovery trajectory.","focusai_entities":"Standard & Poor's Global Ratings, Aras Poon","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Sub-concession Impact?","query":"What are the projected financial and operational implications for Macau's six concessionaires if the sub-concession system is indeed terminated as part of the gaming law revision?"},{"label":"GGR Recovery Drivers?","query":"Beyond the IVS restart, what specific policy shifts or market dynamics are critical for accelerating Macau's GGR recovery to pre-pandemic levels, particularly for the VIP segment?"}],"footnotes":""},"categories":[16338,163,158],"tags":[23906],"class_list":["post-24698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24698","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=24698"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24698\/revisions"}],"predecessor-version":[{"id":24713,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24698\/revisions\/24713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16900"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}