Third public consultation on Macau gaming industry cancelled

A third public consultation on Macau’s gaming industry has been cancelled due to Typhoon Kompasu

A tertiary public consultation on Macau’s gaming manufacture has been cancelled due to Typhoon Kompasu.

Local regulators position sour the audience coming together - which would grant officials to gage public ruling on a proposed tightening of gambling casino rules - due to refuge reasons, with the metropolis rearing its warning signal to No. 8, a spartan shape of storm.

Two previous meetings feature been cancelled due to restrictions amid the ongoing Covid-19 pandemic. One public session remains before the 45-day audience full point concludes on 29 October 2021, with minuscule lucidness on what the unexampled rules could appear like.

Predictions meanwhile feature been made nigh the retrieval of the region’s casinos, with brokerage Sanford c Bernstein suggesting that the industry testament only when let plump for to pre-pandemic levels in 2025.

Analysts gauge that Macao’s 2021 gross gaming revenue (GGR) will hit just now 31% of 2019 levels, which stood at MOP292.5bn ($36.5bn). This fig suggests that an estimated MOP91bn inwards GGR testament live recorded, around MOP40bn to a lesser extent than the government’s purpose of MOP130bn.

According to Bernstein, gradual maturation inwards revenues testament hit 59% past 2022, 87% by 2023, 96% past 2024, and 106% by 2025.

But after a diminution inward visitors during the recent Oct Golden Week, predictions for the short-term future tense of Macau remain negative.

“Golden Week was completely ruined due to the march closures, and we calculate October GGR to be push down nearly 80% compared to 2019, but this is potential to be still worsened if the border contain measures with Zhuhai/China rest yearner than expected,” noted Bernstein.

“At this point, we expect to insure GGR improvement inward November and December, but perform non wait the curtain raising upwards of Hong Kong or easing mainland China visas until next natural spring and summer.”