Soaring Eagle Casino Wedding ut it could have been worse, as the consensus estimate called for a 90 percent drop in GGR. nearest casino in oklahoma casino near me slots On a year-to-date basis, GGR in the world’s largest gaming center is lower by almost 50 percent. The first confirmed COVID-19 was reported in China in mid-January, and by later that month, authorities pressed gaming operators to cancel Chinese Lunar New Year Festivities. On Feb. 4, Macau Chief Executive Ho Iat Seng said the Special Administrative Region’s (SAR) gaming venues would be shuttered for 15 days following the tenth reported coronavirus case on the peninsula. b connected kansas star casino

The respiratory illness has claimed 2,900 lives, most of which have been in China, while the number of global cases has swelled to 85,000. winstar world casino number Nearly all of Macau’s casinos have reopened, but it’s still not business as usual because of stringent safety precautions in the venues and light foot traffic. Improvement Could be Far OffDICJ’s February data release arrived just days after Macau International Airport confirmed that 24 airlines are scrapping March flights to and from the gaming hub. nearest casino boat draftkings at the casino queen Table Games At Island View Casino Utwg Affected cities include some of the largest on mainland China, which accounts for 70 percent of the SAR’s gamblers. poker casino washington Other cities impacted by that decision include Seoul and Taipei, areas that are also important contributors to Macau’s gaming economy. rooms at island view casino 6 casino court

Key Insights and Expert Analysis

Analysts aren’t expecting much improvement in March, with some forecasting a GGR drop of 80 percent. Potentially compounding Macau’s woes is the toll the coronaviruthree rivers casino near mes is taking on the Chinese economy, the world’s second-largest behind the US. Encore Casino Drug Test Yyei On Saturday, the February reading of China’s official Purchasing Managers’ Index (PMI) was revealed to be 35. 7, the worst reading in the country’s history, and well below the 46 reading economists expected. admiral casino uk login Even before the PMI report, global banks were paring estimates for China’s first-quarter GDP, with Goldman Sachs and Nomura recently trimming forecasts to 2.

5 percent and two percent, respectively. Entering this year, it was widely believed that China needed to generate growth of at least six percent to bolster Macau’s chances of a GGR rebound following a sluggish 2019. black bear casino number Murky Near-Term OutlookConsensus is building among analysts that Macau operators’ financial updates for the first and second quarters will almost be rendered moot because there will be little in the way of earnings to highlight. Resorts Casino Mohegan Sun Pyyo Due to the COVID-19 epidemic, analysts are estimating sliding GGR figures as far out as the third quarter, though those declines are expected to be less severe than drops experienced in the first six months of 2020. hard rock casino cincinnati ohio Fanduel Casino Error 6 Idkx Industry observers believe the final three months of 2020 will bring an increase in gaming revenue, but not nearly enough to offset the drops endured by Macau operators through the first three quarters. intertops clabic casino free code

Twenty-four Asian airlines are canceling March flights to and from Macau because of the novel coronavirus, dealing a severe blow to an already fragile local economy thatthree rivers casino near me only recently reopened gaming properties following a 15-day closure. tropicana casino resort laughlin In another blow to Macau’s recovery efforts, 24 airlines are canceling March flights in and out of the peninsula. (Image: Macau Business)The Macau International Airport confirmed that the following carriers are scrapping flights in and out of the Special Administrative Region (SAR) next month: Air Macau, Jejuair, China Eastern Airlines, China Southern Airlines, Juneyao Airlines, Air Asia, Eva Airways, Air Busan, Shanghai Airlines, Long Air, Hainan Airlines, Tiger Air Taiwan, Starlux Airlines, Jin Air, Xiamen Airlines, Philippines Airlines, Bamboo Airways, Tiger Airways, Tway Air, Vietnam Airlines, Easter Jet, Shenzhen Airlines, Cebu Pacific Air, and Spring Airlines. bicycle casino scholarship News of the March flight cancellations comes as Macau is already grappling with strict travel and visa controls that are sapping gross gaming revenue (GGR) in the wake of the COVID-19 outbreak. We assume roulette at the casino