Gross gaming revenue (GGR) in Macau will reach US$252 million in February and post a 90% setback when compared to 2018.
Macau.- According to Bernstein Research, gross gaming revenue (GGR) in Macau will post a 90% setback in February. This is the result of the 15-day casino closure that the government had imposed to stop the spread of the coronavirus in the region.
Analysts estimate that with the reopening of most casinos on February 20, Macau’s GGR will reach US$252 million for the full month.
“We estimate February to be down 90% and March potentially to be down 80% (assuming no significant improvement in travel). The operators we have spoken with do not see any clarity on timing of recovery at this time,” Bernstein Research analysts said in a note. “Once the Covid-19 situation stabilizes and outlook on contagion begins to improve, we expect a solid recovery in Macau,” they added.
Gaming taxes drop 13.3%
During the first month of 2020, the Financial Services Bureau (DSF) recorded €1.01 billion coming to state coffers. That means gaming taxes in Macau fell 13.3% year-on-year, mostly due to the coronavirus.
The gaming industry in Macau resumed operations last Wednesday, after being shut down for 15 days to avoid a coronavirus from spreading in the region. 29 of the city’s 41 casinos reopened at 12 am local time.
The remaining 12 casinos asked the government for permission to delay the reopening. Macau had given Macau’s six operators 30 days to get back into business earlier this month.