{"id":8957,"date":"2020-08-12T22:23:38","date_gmt":"2020-08-12T22:23:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=8957"},"modified":"2026-04-24T02:49:25","modified_gmt":"2026-04-24T05:49:25","slug":"macau-junkets-recovery-could-take-2-or-3-years","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-junkets-recovery-could-take-2-or-3-years","title":{"rendered":"Macau junkets: \u201cRecovery could take 2 or 3 years\u201d"},"content":{"rendered":"\n

Kwok Chi Chung thinks it will take up to 3 years for VIP revenue to reach 2019 levels<\/p>\n\n\n\n\n\n\n\n

Macau.- Kwok Chi Chung, president of the Macau Association of Gaming and Entertainment Promoters, has predicted the return of VIP revenues to pre-pandemic levels could take two or three years.<\/p>\n\n\n\n

However the executive said he believes the return of the Individual Visit Scheme (IVS) that most of Macau\u2019s Chinese visitors use to travel to the city will have a positive effect for business.<\/p>\n\n\n\n

It was announced this week<\/a><\/em><\/strong> that Zhuhai and Guangdong will be the first to reinstate the IVS, and it will be available to all mainland China residents as of September 23.<\/p>\n\n\n\n

Kwok said: \u201cA good number of our VIP clients make use of business visas to come to Macau, but there are also some using IVS visas. It is also good news that the 14-day quarantine requirement for mainlanders returning has been lifted in many provinces.\u201d<\/p>\n\n\n\n

But Kwok believes this won\u2019t be enough to see the VIP gaming sector recover. He said \u201cthe impact of the Covid-19 pandemic is just too big,\u201d and that the health crisis would continue to impact gaming revenues for a longer period of time.<\/p>\n\n\n\n

He added: \u201cThere are also other negative factors, related to [China’s] economic outlook: one is the ongoing tensions between China and the United States, which is impacting businesses in the mainland; another relates to China\u2019s tightening of controls over capital flows.\u201d<\/p>\n\n\n\n

He believes \u201cit may take two to three years\u201d for Macau\u2019s VIP gaming business volume to get back to 2019 levels.<\/p>\n\n\n\n

The latest official data on Macau\u2019s gross gaming revenue<\/a><\/em><\/strong> showed a 94.5 per cent year-on-year drop in July, but an improvement of 87.7 per cent on June.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kwok Chi Chung thinks it will take up to 3 years for VIP revenue to reach 2019 levels<\/p>\n","protected":false},"author":2,"featured_media":8959,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Kwok Chi Chung, president of the Macau Association of Gaming and Entertainment Promoters, projects a two-to-three-year timeline for Macau's VIP gaming revenue to return to 2019 levels. While the reinstatement of the Individual Visit Scheme (IVS) and eased quarantine measures are positive, he cites the lingering impact of the pandemic, US-China tensions, and China's capital flow controls as significant headwinds. This outlook follows a substantial year-on-year GGR decline in July.","focusai_entities":"Kwok Chi Chung, Macau Association of Gaming and Entertainment Promoters, China, United States","focusai_location":"Macau, Zhuhai, Guangdong","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), marketing_crm (0.7), payments_fraud_aml (0.7), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IVS & Capital Impact","query":"What specific quantitative impact is anticipated from the IVS reinstatement and the ongoing capital flow controls on Macau's mass market versus VIP GGR segmentation over the next 12-18 months?"},{"label":"Operator Strategy Shift","query":"How are Macau's concessionaires recalibrating their B2B junket partnerships and B2C direct VIP marketing strategies in light of the protracted recovery timeline and evolving regulatory landscape?"}],"footnotes":""},"categories":[16338,163,158],"tags":[257,21630],"class_list":["post-8957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-macau","tag-revenues"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8957","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=8957"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8957\/revisions"}],"predecessor-version":[{"id":8965,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8957\/revisions\/8965"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8959"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}