{"id":31756,"date":"2022-07-14T05:05:09","date_gmt":"2022-07-14T08:05:09","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=31756"},"modified":"2026-04-23T06:52:22","modified_gmt":"2026-04-23T09:52:22","slug":"analysts-predict-macau-2023-ggr-could-reach-60-of-pre-pandemic-levels","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/analysts-predict-macau-2023-ggr-could-reach-60-of-pre-pandemic-levels","title":{"rendered":"Analysts predict Macau 2023 GGR could reach 60% of pre-pandemic levels"},"content":{"rendered":"\n<p>Analysts at Morningstar have also lowered their predictions for Macau\u2019s 2022 gross gaming revenue to 20 per cent of 2019 levels.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- As new Covid-19 cases continue to appear in Macau, analysts at <strong>Morningstar <\/strong>have predicted that\u00a0Macau\u2019s casino <strong>gross gaming revenue (<\/strong>GGR) will reach only 20 per cent of 2019 levels\u00a0this year. They expect 2023 GGR could rebound to 60 per cent of pre-pandemic levels.\u00a0<\/p>\n\n\n\n<p>The US financial services firm had previously predicted that Macau&#8217;s GGR for this year could reach 40 per cent of 2019 levels. It&#8217;s lowered its forecast amid the latest outbreak of Covid-19 cases, which has led the government of Macau to\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-shuts-all-casinos-for-a-week-amid-rise-in-covid-19-cases\" target=\"_blank\">shut casinos until July 18<\/a>. <\/p>\n\n\n\n<p>Analysts at Sanford Bernstein have predicted the average daily GGR in Macau for July will be\u00a0<strong>down 85 per cent month-on-month<\/strong>. Analysts say revenue could also depend on the future of China\u2019s zero-Covid. China remains the only country with a\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/covid-19-vaccine-passports-could-speed-up-macau-tourism-recovery\" target=\"_blank\">largely quarantine-free travel bubble<\/a>\u00a0with Macau.\u00a0<\/p>\n\n\n\n<p>Macau\u2019s GGR for the&nbsp;<strong>first six months of 2022&nbsp;<\/strong>combined stands at MOP26.27bn (US$3.26bn), down 46.4 per cent year-on-year.&nbsp;<strong>Analysts at JP Morgan Securities&nbsp;<\/strong>have already warned that Macau casino operators are likely to post negative earnings before interest, taxation, depreciation and amortisation (EBITDA) for the second quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts at Morningstar have also lowered their predictions for Macau\u2019s 2022 gross gaming revenue to 20 per cent of 2019 levels.<\/p>\n","protected":false},"author":176,"featured_media":18164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Morningstar has significantly lowered Macau's 2022 Gross Gaming Revenue (GGR) forecast to 20% of 2019 levels, down from 40%, citing ongoing COVID-19 outbreaks and casino closures until July 18. This revision, echoed by Sanford Bernstein's projections for July's average daily GGR, suggests a challenging H2 2022, with JP Morgan Securities anticipating negative EBITDA for operators in Q2, heavily influenced by China's zero-Covid policy.","focusai_entities":"Morningstar, Sanford Bernstein, JP Morgan Securities","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.98), investor_analyst (0.99), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Recovery Triggers?","query":"What are the specific triggers or policy shifts that could accelerate Macau's GGR recovery beyond the 2023 60% projection, particularly concerning China's zero-Covid strategy?"},{"label":"Operator Financial Health Impact?","query":"How will sustained negative EBITDA impact Macau concessionaires' capital expenditure plans, debt covenants, and potential for M&A activity in the near to medium term?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906],"class_list":["post-31756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31756","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=31756"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31756\/revisions"}],"predecessor-version":[{"id":31770,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31756\/revisions\/31770"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18164"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}