Good morning. Hopes are high for Macau’s recovery, as the new year rang in the new gaming concessions. A scholar is now predicting that 2023 GGR could reach 70 percent of pre-pandemic levels, with expectations that pent-up demand could see a Las Vegas-style recovery. This comes as concessionaires have begun to rent back their gaming space from the Macau government, under the new concessions, at $93 per square meter.
What you need to know
- A gaming scholar is predicting that Macau can return to up to 70 percent of pre-pandemic GGR levels within 2023.
- Macau’s gaming concessionaire holders are going to be renting back their gaming space from the government for $93 per square meter.
- The auction of IPI gaming equipment continues on Friday 6th January, with the 3rd Auction, following on from successful auctions over the last few months.
On the radar
- Casino management at Grand Emperor in Macau to resume under company.
- Aquis exits gaming sphere with successful sale of Casino Canberra.
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Macau’s recovery is being strongly anticipated, with a gaming scholar predicting that 2023 gross gaming revenues could reach up to 70 percent of pre-pandemic levels. The rise should be achievable if January (including the Chinese New Year holiday) can sufficiently push up revenues. This could be hampered as various nations have imposed travel requirements, such as NAT testing, for entrants from Macau, Hong Kong and China, as the regions undergo fresh waves of COVID.
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