{"id":587,"date":"2020-10-12T00:00:00","date_gmt":"2020-10-12T00:00:00","guid":{"rendered":"https:\/\/gbc.ng\/macau-could-return-to-pre-pandemic-levels-in-2022\/"},"modified":"2020-10-12T00:00:00","modified_gmt":"2020-10-12T00:00:00","slug":"macau-could-return-to-pre-pandemic-levels-in-2022","status":"publish","type":"post","link":"https:\/\/gbc.ng\/index.php\/macau-could-return-to-pre-pandemic-levels-in-2022\/","title":{"rendered":"MACAU COULD RETURN TO PRE-PANDEMIC LEVELS IN 2022"},"content":{"rendered":"<p>According to JP Morgan analysts, Macau\u2019s gaming industry will not see a complete recovery until 2022.<\/p>\n<p>Macau.- JP Morgan Securities analysts have forecast that Macau gaming revenue will not make a complete recovery to pre-pandemic levels until 2022.<\/p>\n<p>According to the researchers, casino GGR might reach MOP292.1 billion (US$36.6 billion) in full-year 2022, a number comparable to the MOP291.2 billion achieved in full-year 2019 before the Covid-19 crisis of this year.<\/p>\n<p>Despite the resumption of the issuing of visas for tourists coming from the neighbouring province of Guangdong, and then for all mainland China, tourism has not yet returned in the numbers expected.<\/p>\n<p>JP Morgan said the loosening of border measures had failed to \u201cunlock pent-up demand\u201d for travel outside of mainland China. Demand was \u201csurprisingly weak\u201d in September with an 85 per cent fall in visitor arrivals year-on-year and GGR down by 90 per cent year-on-year, JP Morgan\u2019s DS Kim, Derek Choi and Jeremy An said.<\/p>\n<p>Visitor arrivals to Macau during the Golden Week holiday period have also been lower than hoped for.<\/p>\n<p>According to JP Morgan there is still a \u201cstigma\u201d among mainland Chinese about cross-border travel during the pandemic, which prevents them from feeling safe about travelling to Macau.<\/p>\n<p>JP Morgan analysts said: \u201cWe were overly hopeful on the prospect of pent-up demand, which we thought would outweigh the nuisances related to travel arrangement to Macau and stricter capital control.\u201d<\/p>\n<p>They also attributed the poor figures to mainland China\u2019s large-scale clampdown on overseas gambling, a \u201chigher than usual\u201d scrutiny on capital outflow and junkets\u00a0holding\u00a0capital.<\/p>\n<p>JP Morgan believes the Macau gaming market could see improvements if travel restrictions between Hong Kong and Macau are eased.<\/p>\n<p>Researchers noted: \u201cWe think Hong Kong\u2019s importance lies in its position as an avenue for capital flow, where a sizable portion of liquidity goes through Hong Kong into Macau.\u201d<\/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=\"21271\"\/> <input id=\"comment_parent\" name=\"comment_parent\" type=\"hidden\" value=\"0\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to JP Morgan analysts, Macau\u2019s gaming industry will not see a complete recovery until 2022. Macau.- JP Morgan Securities analysts have forecast that Macau gaming revenue will not make a complete recovery to pre-pandemic levels until 2022. According to&#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-587","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 COULD RETURN TO PRE-PANDEMIC LEVELS IN 2022 - 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-could-return-to-pre-pandemic-levels-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MACAU COULD RETURN TO PRE-PANDEMIC LEVELS IN 2022 - GBC\" \/>\n<meta property=\"og:description\" content=\"According to JP Morgan analysts, Macau\u2019s gaming industry will not see a complete recovery until 2022. 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