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Border easing a positive step, but limited impact on GGR

The latest border easings between China and Macau are a positive step but will have limited impact on gross gambling revenue, analysts said.

A restriction that required non-Guangdong residents to remain in nine designated cities for 14 days before being able to travel elsewhere has now been lifted. 

Bernstein says this is progress towards normalisation, but will have little impact on gross gambling revenue, which is expected to have fallen 95 percent in July.

The real catalyst for improvement will be the reintroduction of individual visit schemes. There is no official timetable, though the analysts said it’s likely they will be permitted in August or September.

The issuance of IVS visas is likely to be introduced in stages with Guangdong amongst the first to be allowed to travel. This is significant for Macau as it gets about 25 to 30 percent of its visitors from the province.

Since the borders have partially reopened, visitation has risen from a few hundred a day to about 2,000-3,500, Bernstein said. 


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