• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 26 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Macau GGR to reach just 80% of 2019 levels in 2024: Credit Suisse

Ben Blaschke by Ben Blaschke
Thu 23 Jun 2022 at 18:47
Survival of the Fittest?
18
SHARES
460
VIEWS
Print Friendly, PDF & Email

Global investment bank Credit Suisse has revised down its estimates for Macau’s short-term GGR recovery, predicting gross gaming revenues will only reach 80% of 2019 levels in 2024. It had previously estimated a recovery to 98%.

In a Wednesday note, analysts Kenneth Fong, Lok Kan Chan and Sardonna Fong said the revised estimates were primarily based on the recent news that mainland China was increasing efforts to prevent cross-border gambling by placing added restrictions on frequent gamblers.

“We believe restrictions on frequent gamblers, especially outside of Guangdong, are going to stay amid China’s anti cross-border gaming effort, even if the COVID impact normalizes in the future,” they wrote.

The analysts have also lowered their target prices for Macau concessionaires by between 10% and 59% to reflect the weakness in demand. This assumes relaxation of some border restrictions no earlier than in 1Q23, a 1% increase in Macau’s gaming levies as per the new gaming law and initial low mass margin due to higher marketing expenses for leisure players.

“The sector should see limited downside as it stops reacting to negative news with low expectation, yet it lacks catalysts with minimal earnings (if not losses) near term,” they said.

“While long-term investors may choose to accumulate and wait, a higher risk-free rate now and highly uncertain recovery timing make it strategically less attractive. We suggest waiting for more solid signs of a sustainable GGR recovery. Historically, a gaming cycle rally normally lasts for 1.5 years on average.”

The Credit Suisse estimates come a day after Macau authorities revealed just 330 tourists had entered Macau on Tuesday, down 99.7% on the 2019 daily average, due to the SAR’s largest COVID-19 outbreak since the start of the pandemic.

RelatedPosts

MGTO says no apparent impact on visitor numbers from limitation on provision of free snacks in Macau casinos

Macau visitor arrivals rise 13.3% year-on-year to 2,891,003 in June

Fri 25 Jul 2025 at 05:45
Philippines IRs see combined GGR fall 10.6% to US$778 million in 2Q25

Philippines IRs see combined GGR fall 10.6% to US$778 million in 2Q25

Thu 24 Jul 2025 at 17:43
IAG to launch weekly “The IAG Live Streaming Show” starting this Friday 25 July

IAG to launch weekly “The IAG Live Streaming Show” starting this Friday 25 July

Thu 24 Jul 2025 at 14:20
A New Macau

Sands China to adopt more aggressive approach to customer reinvestment in Macau due to recent underperformance, targets US$2.7 billion annual EBITDA

Thu 24 Jul 2025 at 06:16
Load More
Tags: covid-19Credit Suissecross-border gamblingGGRgross gaming revenueMacau
Share7Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Uncertain future for POGO industry suppliers as PAGCOR says operations in “status quo” for now

Maybank: Threat of total ban on Philippines online gaming is real, more clarity from President Marcos likely Monday

by Ben Blaschke
Fri 25 Jul 2025 at 12:34

Malaysian investment bank Maybank has warned that the threat of a total ban on the Philippines’ domestic online gaming, or eGames, sector is real given that political noise is similar to before recent bans on eSabong and POGOs. While Maybank...

MGTO says no apparent impact on visitor numbers from limitation on provision of free snacks in Macau casinos

Macau visitor arrivals rise 13.3% year-on-year to 2,891,003 in June

by Pierce Chan
Fri 25 Jul 2025 at 05:45

According to data from Macau’s Statistics and Census Service (DSEC), a total of 2,891,003 visitors arrived in Macau in June, representing a year-on-year increase of 13.3%. Mainland China remained the primary source of visitors to Macau in June, with 1,995,627...

Philippines IRs see combined GGR fall 10.6% to US$778 million in 2Q25

Philippines IRs see combined GGR fall 10.6% to US$778 million in 2Q25

by Ben Blaschke
Thu 24 Jul 2025 at 17:43

The Philippines’ integrated resorts generated gross gaming revenues of Php93.4 billion (US$1.65 billion) in the first six months of the year, accounting for around 43.4% of the local gaming industry’s GGR according to information from Alejandro Tengco – the Chairman...

Pitch! lands at iconic Sydney Opera House for Regulating the Game 2026

Pitch! lands at iconic Sydney Opera House for Regulating the Game 2026

by Newsdesk
Thu 24 Jul 2025 at 14:49

Pitch! @RTG, the dynamic innovation showcase of the Regulating the Game conference, returns on 10 March 2026 with even more energy, impact and ingenuity - elevating its platform in the breathtaking Yallamundi Rooms at the iconic Sydney Opera House. Designed...

Your browser does not support the video tag.


IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English