Macau’s gross gambling revenue is likely to be 50 percent higher in July than in March as travel restrictions with neighbouring Guangdong province are lifted, according to Bernstein Research.
The firm said in the July 1st to July 11 period, GGR was up 16 percent from the last week of June and up 29 percent from June overall.
Macau’s GGR recorded its worst month this year in June after a new outbreak of Covid in Guangdong and other cities in China triggered the reimposition of travel restrictions. Those restrictions for Guangdong have now been lifted.
For the year as a whole, Bernstein sees GGR up 144 percent from last year, reaching 50 percent of pre-pandemic levels. Mass is likely to recover to 60 percent of 2019 volumes, with VIP at just over a third.
Bernstein is optimistic that the recovery will begin to accelerate in the second half, although it warns that new outbreaks could lead to a reduction in its forecasts.