Macau – The gross gaming revenue in Macau is down over ninety percent for the month of April as the impact of Coronavirus rumbles on in the special administrative region of China.
According to figures out of The Gaming Inspection and Coordination Bureau, revenue is down less than one-hundred million dollars and the results, which have been compiled by analysts in the region have been negatively affected by mandatory quarantine of arrivals to Macau by Guangdong Province officials.
Analyst Kenneth Fong said:
“Looking ahead, we believe VIP should see a faster recovery. We estimate the pent-up demand will help the VIP business to recover to 50% once borders reopen and likely reach 100% of the pre-virus level in summer time.
On the other hand, mass recovery is likely to be more gradual.
We expect mass GGR to back to around 70% to 80% by summer holidays as China may reopen IVS visa in phases, and 90% to 100% by end of the year.”
Additionally, for the first four months of the year, gross gaming revenue is down almost seventy percent year on year compared with the same period in 2019.
Reportedly, another analyst stated in April that casino operators in Macau ‘have ample liquidity to survive this unprecedented period of ‘near-zero revenue’ for over a year’.