πŸ”₯ Per Morgan Stanley, Macau GGR May Continue to Fall in - Tunf News

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Macau Gross Gaming Revenue for Q1 was $ billion, down 60% year-​on-year and down 58% quarter-on-quarter. Immigration and.


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Earlier, the government projected a 50% drop in GGR because of the COVID outbreak. GGR there fell by a record % in February.


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Macau's gross gambling revenue is likely to fall 37 percent in , before rebounding strongly next year, and Galaxy Entertainment stands out.


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macau-to-face-hugedeficit-as-ggr- This, of course, is due to decreases in revenue at casino concessionaires, who have already seen.


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Nomura analysts said in a note that Macau casino gross gaming revenue could begin recovering in June.


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Nomura analysts said in a note that Macau casino gross gaming revenue could begin recovering in June.


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Gross gaming revenue slid almost 97 percent in April as coronavirus In the fourth month of , Macau's six concessionaires combined to.


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Gross gaming revenue plummeted by an unprecedented 97 per cent to facility for the Hong Kong-Zhuhai-Macau Bridge on 27 April


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MACAU LIKE A GHOST TOWN ?? SITUATION IN MACAU (February 1 2020)

Further, the China economy has been negatively impacted by the virus and it will take some time for the economy to ramp up and for consumer confidence to return to pre-virus levels. Again, we wish to thank all GEG team members for their support during this challenging time. These restrictions have impacted visitor arrivals to Macau. Total Net Revenue. I am confident in the longer term that we will recover from this challenge and we are committed to supporting the Macau Government in their vision to develop Macau into a World Centre of Tourism and Leisure. Our balance sheet combined with cash flow from operations allows us to return capital to shareholders via special dividends and to fund both our Macau development pipeline and international expansion ambitions. GEG is committed to delivering world class unique experiences to its guests and building a sustainable future for the communities in which it operates. Macau Energy Saving Activity StarWorld Macau. At this point in time it is difficult to quantify the full year financial impact of the virus, but it will have a material impact on our financial results and we cannot determine the duration of the pandemic. We view Japan as a great long term growth opportunity that will complement our Macau operations and our other international expansion ambitions. Gaming Statistics 9. Importantly in Mainland China, Macau is considered domestic travel and with the planned opening of Cotai Phase 3, GEG is well positioned for future growth. I would like to thank everyone on the GEG team who supported the Company in these difficult times by contributing to our cost control program. GEG is also planning to develop a world class, lifestyle leisure resort on a 2. Social Responsibility Award. This is further impacted by weaker demand for China exports throughout the world. Full Size. Log In Sign Up. At the group level the gaming statistics include Company owned resorts plus City Clubs. I would like to acknowledge the outstanding efforts of the Central and the Macau SAR Governments and thank them for their leadership during this period. Group Key Financial Data. Our Japan based team continues with our Japan development efforts. We continue to ramp up our construction efforts of Cotai Phases 3 and 4, as we firmly believe the market for tourism and leisure in China is greatly under penetrated. Total GGR Win. Same-day visitors were 1. We remain well capitalized. At this point we cannot quantify the impact but we will endeavor to maintain our schedule. This is due to a lack of certainty around immigration, travel and quarantine restrictions associated with COVID Until we have visibility on these variables it is difficult to predict the shorter term outlook for Macau.

All amounts are expressed in HKD unless otherwise stated. However, I macau ggr 2020 pleased to say that the Macau Government has been doing an excellent job to implement a wide range of health and safety and financial measures, to minimize the impact macau ggr 2020 the agree, sun palace casino online no deposit bonus 2020 and and to unite society.

Photo: Business Wire. The introduction of immigration and quarantine restrictions has adversely affected visitations to Macau and impacted virtually all businesses in Macau. It primarily develops and operates a large portfolio of integrated resort, retail, dining, hotel and gaming facilities in Macau.

Longer term we remain very confident in the outlook for Macau. We will try to maintain our development target, however due to COVID, development timelines may be impacted.

At this macau ggr 2020 in time we still cannot determine the duration of the COVID and therefore we are not yet able to eve party calgary 2020 the full financial impact.

Thank you. Having said that, we are doing our best to adjust our operations to the current business environment and effectively control macau ggr 2020. Also, all the concessionaires are working closely with the Macau Government and the relevant departments to contain the spread of the virus.

It is positive that recent surveys of Chinese indicated that upon the lifting of travel restrictions, that Chinese tourists have a preference to travel domestically as distinct to international travel.

GEG is uniquely positioned for long term growth. The Government is also planning a variety of tourism incentives and festive events in Macau to encourage tourists macau ggr 2020 visit Macau.

We would like to thank everyone on the GEG team who supported the Company in these difficult times by contributing to our cost control program. Peter Macau ggr 2020. Construction Materials Macau ggr 2020. Total GGR Win macau ggr 2020. Rolling Chip Volume Mass Table Drop Gaming Statistics City Clubs Key Financial Data.

Again, we recognize the serious impact of the crisis across the globe, and we encourage people to take caution and increase their level of personal hygiene and safety and remain well during this period of time.

The goal of these initiatives is to assist healthcare workers, help with public health promotion and support the medical and scientific research related to the epidemic. Occupational Safety and Health Council.

The average length of stay of overnight visitors extended by 0. For more information about the Group, please visit www. The outlook for the foreseeable future is difficult to forecast. Mass Table Drop 8. Gaming Statistics 6. Group Financial Results We would like to thank everyone on the GEG team who supported the Company in these difficult times by contributing to our cost control program. I would like to express my heartfelt thanks to everyone globally for their efforts and restraints during this period of time. In particular, I would like to acknowledge and thank all of the medical and emergency personnel for their efforts and sacrifice. Rolling Chip Volume 7. I would also like to thank our loyal staff for maintaining the highest level of cleanliness and hygiene within our resorts. The Group has the largest undeveloped landbank of any concessionaire in Macau. Mass Table Drop 4. Q1 Q4 Gaming Statistics 2. We continue to make progress with our concept plan for a lifestyle resort on Hengqin that will complement our high energy resorts in Macau. Environmental Campaign Committee. Rolling Chip Volume 3. South China Morning Post. Electronic Gaming Volume. In the interim we are focused on carefully controlling costs and ensuring our resorts are ready to fully reopen when the market demand returns. We wish to highlight that the COVID crisis is likely to have a material adverse effect on our financial results and impact our development projects in Macau. Q1 has been a very difficult period for the community and businesses globally due to the COVID pandemic. During this challenging period of time, we need to stay focused on the battle against the pandemic and I would like to thank all of the medical and emergency personnel for their efforts and sacrifice.