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Macau border opening likely pushed to July: Bernstein

Restrictions on border crossings into Macau will not likely be lifted by the end of June, according to analysts from Bernstein Research. 

While there has been some loosening of border crossing restrictions, such as allowing applications for residents to cross the Macau-Zhuhai border for official purposes, or urgent/special reasons (now temporarily suspended due to a high number of applications), most restrictions between Macau, Hong Kong, and China are still firmly in place. 

Bernstein notes that there have been a very low number of cases in Guangdong and Hong Kong, however, there have been some concerns raised around several new local transmissions over the last two weeks in Hong Kong. 

There is rising optimism that some border restrictions will be reduced, such as allowing business travel with proper medical certification, said the analysts. 

However, with no clear indication on when IVS visa issuances will begin, Bernstein said its best guess would be July when a phased re-opening of the border will start. 

The brokerage estimates June GGR in Macau to be at similar levels to that of April and May - that being down mid-90s percent year-on-year. 

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