Star Casino Gold Coast 1 ut it could have been worse, as the consensus estimate called for a 90 percent drop in GGR. gold coast casino executive suite raging bull casino 2021 Riverwind Casino Craps Xvfd On a year-to-date basis, GGR in the world’s largest gaming center is lower by almost 50 percent. thunder valley casino tribe 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. soaring eagle casino outdoor seating chart On Feb. lake tahoe casinos map 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.

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. 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. free slot games lightning Zynga Poker Fan Page Txwq 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. online casino no deposit bonus new Affected cities include some of the largest on mainland China, which accounts for 70 percent of the SAR’s gamblers. no deposit bonus casino oct 2021 Chumba Casino Login Bonus Xltb Other cities impacted by that decision include Seoul and Taipei, areas that are also important contributors to Macau’s gaming economy. casino table games supervisor jobs

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. 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. 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. oxford casino uk the bellagio casino las vegas

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. mohegan sun casino hotel entrance 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. 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. luckyland casino real money 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.

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. harrahs north carolina casino In another blow to Macau’s recovery efforts, 24 airlines are canceling March flights in and out of the peninsula. seminole casino locations (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. Harrah S Casino Front Desk Fzit 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. call angel of the winds casino We assume