New York research firm; AB Bernstein, has today stated that the gross gaming revenue of Macau is down for the seven days prior compared with the previous year.
According to the company, which is widely recognized as Wall Street’s premier sell-side research and brokerage firm, said that the GGR had declined by as much as ninety-five percent in a year-on-year figures comparison with the average daily revenue in the region of five and a half million dollars.
Analysts at the firm, which was established in the United States in 1967 and in the United Kingdom in 1999, stated that the seven day figures represent a fall larger than the eighty-seven percent decline experienced earlier in the month.
Undoubtedly, the drop in revenue has been largely due to the ongoing Covid-19 pandemic and ‘a pickup in coronavirus cases leading to new travel restrictions in mid-March led to a drop in GGR and visitation.’
Bernstein, which began operations in Hong Kong in 2010, and now covers a range of sectors across Asia said:
“IVS and group visas into Macau remained suspended and most transport is severely disrupted with airlines having cancelled or limited flights into Macau and surrounding airports back in February. The gaming operators and other Macau based contacts we have spoken with do not see any clarity on timing of recovery.”
A spokesperson for the company concluded:
“We expect GGR to pick up again in May/June with loosening travel restrictions, but any strong near-term recovery is unlikely.”
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