Travel restrictions to loosen in late May: Bernstein

Bernstein analysts are expecting a pick up in GGR in May or June, with travel limitations between Macau, Hong Kong and China beginning to ease over next few weeks. 

The current border restrictions have led to visitation dropping to only a few hundred a day, said the brokerage, versus more than 100,000 in normal times. 

Berstein said it was hard to predict when IVS visa issuances will begin, but said if the number of cases holds steady, or falls within the next few weeks, we may see IVS visa to begin again in May and to increase in a phased manner with group visa issuances following. 

Regarding April GGR, the brokerage estimates gaming revenue to be down 94-95 percent in the month, with no change to travel restrictions over the remaining days of the month.