{"id":480,"date":"2020-05-10T00:00:00","date_gmt":"2020-05-10T00:00:00","guid":{"rendered":"https:\/\/gbc.ng\/macau-ggr-down-96-8-in-april\/"},"modified":"2020-05-10T00:00:00","modified_gmt":"2020-05-10T00:00:00","slug":"macau-ggr-down-96-8-in-april","status":"publish","type":"post","link":"https:\/\/gbc.ng\/index.php\/macau-ggr-down-96-8-in-april\/","title":{"rendered":"MACAU GGR DOWN 96.8% IN APRIL"},"content":{"rendered":"<p style=\"line-height: 19.5pt; background: white; vertical-align: baseline; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.0pt; font-family: 'Open Sans','serif'; color: black;\">Macau\u2019s gross gaming revenues plummeted by 96.8% year-on-year to just MOP$754 million in April, according to data released by the Gaming Inspection and Coordination Bureau.<\/span><\/p>\n<p style=\"line-height: 19.5pt; background: white; vertical-align: baseline; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.0pt; font-family: 'Open Sans','serif'; color: black;\">The result, largely in line with dire estimates put forward by analysts, comes after Guangdong Province introduced mandatory 14-day quarantine for all arrivals from Macau, including local Guangdong residents, driving visitation into Macau to near zero.<\/span><\/p>\n<p style=\"line-height: 19.5pt; background: white; vertical-align: baseline; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.0pt; font-family: 'Open Sans','serif'; color: black;\">For the first four months of 2020, Macau\u2019s GGR is down 68.7% year-on-year to MOP$31.24 billion compared with MOP$99.74 billion over the same period in 2019.<\/span><\/p>\n<p style=\"line-height: 19.5pt; background: white; vertical-align: baseline; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.0pt; font-family: 'Open Sans','serif'; color: black;\">Credit Suisse equity analyst Kenneth Fong said the final figure came as no surprise but tipped a relatively fast recovery in the near future, pending relaunch of the Individual Visit Scheme.<\/span><\/p>\n<p style=\"line-height: 19.5pt; background: white; vertical-align: baseline; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.0pt; font-family: 'Open Sans','serif'; color: black;\">\u201cLooking ahead, we believe VIP should see a faster recovery,\u201d Fong wrote in a Friday note. \u201cWe estimate the pent-up demand will help the VIP business to recover to 50% once borders reopen and likely reach 100% of the pre-virus level in summer time.<\/span><\/p>\n<p style=\"line-height: 19.5pt; background: white; vertical-align: baseline; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.0pt; font-family: 'Open Sans','serif'; color: black;\">\u201cOn the other hand, mass recovery is likely to be more gradual. We expect mass GGR to back to around 70% to 80% by summer holidays as China may reopen IVS visa in phases, and 90% to 100% by end of the year.\u201d<\/span><\/p>\n<p class=\"author__bio\" itemprop=\"description\">\n<p class=\"comment-form-comment\"><label class=\"show-on-ie8\" for=\"comment\">Comment<\/label><br \/>\n<textarea aria-required=\"true\" cols=\"45\" id=\"comment\" name=\"comment\" placeholder=\"Message\" rows=\"8\"><\/textarea><\/p>\n<p class=\"comment-form-author\"><label class=\"show-on-ie8\" for=\"author\">Name<\/label><input aria-required=\"true\" id=\"author\" name=\"author\" placeholder=\"Name...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-email\"><label class=\"show-on-ie8\" for=\"name\">Email<\/label><input aria-required=\"true\" id=\"email\" name=\"email\" placeholder=\"Email...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-url\"><label class=\"show-on-ie8\" for=\"url\">Url<\/label><input id=\"url\" name=\"url\" placeholder=\"Website...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-cookies-consent\"><input id=\"wp-comment-cookies-consent\" name=\"wp-comment-cookies-consent\" type=\"checkbox\" value=\"yes\"\/> <label for=\"wp-comment-cookies-consent\">Save my name, email, and website in this browser for the next time I comment.<\/label><\/p>\n<p class=\"form-submit\"><input class=\"submit\" id=\"comment-submit\" name=\"submit\" type=\"submit\" value=\"Send\"\/> <input id=\"comment_post_ID\" name=\"comment_post_ID\" type=\"hidden\" value=\"17055\"\/> <input id=\"comment_parent\" name=\"comment_parent\" type=\"hidden\" value=\"0\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Macau\u2019s gross gaming revenues plummeted by 96.8% year-on-year to just MOP$754 million in April, according to data released by the Gaming Inspection and Coordination Bureau. The result, largely in line with dire estimates put forward by analysts, comes after Guangdong&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,11],"tags":[],"class_list":["post-480","post","type-post","status-publish","format-standard","hentry","category-asia","category-casino"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MACAU GGR DOWN 96.8% IN APRIL - GBC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gbc.ng\/index.php\/macau-ggr-down-96-8-in-april\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MACAU GGR DOWN 96.8% IN APRIL - GBC\" \/>\n<meta property=\"og:description\" content=\"Macau\u2019s gross gaming revenues plummeted by 96.8% year-on-year to just MOP$754 million in April, according to data released by the Gaming Inspection and Coordination Bureau. 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