Macau GGR weaker in June on Guangdong covid spike

Morgan Stanley analyst Praveen Choudary is expecting Macau GGR to be weak in June and stronger in July, due mainly to a spike in covid-19 cases in Guangdong which will cause a tightening of restrictions for mainland visitors from that region. Choudhary, speaking on Morgan Stanley’s “Sound Bites” said currently, around 60 percent of mainland Chinese arrivals come from the Guangdong region. The sentiment was echoed by Macau travel industry insider Wong Fai, who noted that the number of bookings through local travel agencies for hotels and transportation in Guangzhou has significantly decreased. Morgan Stanley  Macau TDM