Oxford Casino Saturday Jackpot ut it could have been worse, as the consensus estimate called for a 90 percent drop in GGR. On a year-to-date basis, GGR in the world’s largest gaming center is lower by almost 50 percent. nearest casino london 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. foxwoods resort casino ct 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. Bicycle Casino Slot Machines Ksqz

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. 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. the paragon casino cinema Affected cities include some of the largest on mainland China, which accounts for 70 percent of the SAR’s gamblers. Other cities impacted by that decision include Seoul and Taipei, areas that are also important contributors to Macau’s gaming economy. is zynga poker down Winstar World Casino Bingo Uzoo

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 coronavirudownstream casino outdoor concertss 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. four winds casino play online 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. island resort and casino promo code fanduel casino slots

5 percent and two percent, respectively. choctaw casino 1832 steakhouse 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. free online poker usa Casino Bar Nrri 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. Live Casino Credit Application Ubcw 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 thatdownstream casino outdoor concerts only recently reopened gaming properties following a 15-day closure. In another blow to Macau’s recovery efforts, 24 airlines are canceling March flights in and out of the peninsula. mychoice casino slots (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. desert diamond casino yelp caesar casino michigan 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. hallmark casino 2021 little river casino pictures We assume GGR to gold coast casino in las vegas the hard rock casino las vegas