Casino gross gaming revenue (GGR) dropped\u00a080 percent<\/strong><\/em><\/a> in Macau in March and no analysts are predicting it could hit zero in April due to the Coronavirus pandemic. <\/p>\n\n\n\nThe bleak situation was outlined in a report by brokerage JP Morgan Securities.<\/p>\n\n\n\n
\u201cWe wouldn\u2019t be surprised to see Macau printing near-zero GGR until the restrictions at the Guangdong border are lifted,\u201d the JP Morgan report stated.<\/p>\n\n\n\n
The neighbouring mainland China province of Guangdong is a major feeder market for Macau tourism. <\/p>\n\n\n\n
Guangdong is one of a number of places in the region that have now imposed travel restrictions as part of efforts to contain the spread of Coronavirus.<\/p>\n\n\n\n
However, Sanford C. Bernstein Ltd, said in a Thursday memo that all six Macau operators should have at least six months of cash liquidity to survive the business \u201cdrought\u201d caused by the crisis.<\/p>\n\n\n\n
According to Macau\u2019s Public Security Police, Macau received around\u00a0230 visitors on Sunday and approximately 270 on Monday. <\/p>\n\n\n\n
In 2019, the statistical daily average was circa 108,000 tourist visitors per day, based on that year\u2019s tally of 39.4 million arrivals as reported previously be the city\u2019s Statistics and Census Service.<\/p>\n\n\n\n
JP Morgan analysts DS Kim, Derek Choi and Jeremy An further noted in relation to April GGR: \u201cApril could possibly be the worst month since the first Vegas-type casino opened in 2004 (Sands Macao).\u201d
<\/p>\n","protected":false},"excerpt":{"rendered":"
JP Morgan analysts paint a bleak picture for gaming in Macau.<\/p>\n","protected":false},"author":2,"featured_media":2147,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Gross Gaming Revenue (GGR) plummeted 80% in March, with JP Morgan analysts predicting near-zero GGR for April due to Coronavirus-related travel restrictions, particularly from Guangdong. While Sanford C. Bernstein Ltd. suggests Macau's six operators possess sufficient liquidity for six months, the unprecedented decline marks the worst period since Sands Macao opened in 2004, severely impacting tourism and market performance.","focusai_entities":"JP Morgan Securities, Sanford C. Bernstein Ltd, Macau's Public Security Police, Macau Statistics and Census Service, DS Kim, Derek Choi, Jeremy An, Sands Macao","focusai_location":"Macau, Guangdong, China","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Operator Liquidity?","query":"What specific measures are Macau's six concessionaires implementing to manage cash burn rates and preserve liquidity beyond the projected six-month survival window, given the potential for prolonged border restrictions?"},{"label":"GGR Recovery Projections?","query":"Beyond the immediate GGR collapse, what are the revised long-term GGR recovery projections for Macau, considering potential shifts in VIP and mass market visitation post-pandemic, and how do these impact future capital expenditure plans?"}],"footnotes":""},"categories":[160,161,16338,163,167,158],"tags":[257],"class_list":["post-5195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-daily-news","category-east-asia-news","category-finance-news","category-news-region","category-slider-home","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5195","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5195"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5195\/revisions"}],"predecessor-version":[{"id":5209,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5195\/revisions\/5209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/2147"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}