China restarted tourist visa issuance for Zhuhai residents on Aug. 12, a move that boosted visits to 7,000 per day, according to Bernstein. However, the research says there are still risks to Macau’s recovery efforts.<\/p>\n
Although the overall situation appears to be under control, there is a risk of derailing the Macau, China travel bubble timetable if more cases were to lead to serious contagion,\u201d<\/strong> said the brokerage firm.<\/p><\/blockquote>\nOn Aug. 14, a new coronavirus case was documented in Shenzhen. Following a round of mass testing, local authorities discovered two more cases.<\/p>\n
Sensible Forecast<\/h2>\n
The call for a mid-fall move to break-even is practical when considering operators will only get a few days of benefit this month from Guangdong reissuing IVS permits. The same is true for the rest of the mainland’s potential impact on Macau GGR in September.<\/p>\n
\n
Additionally, it’s taking authorities about a week to process IVS requests. For August, Bernstein is forecasting another GGR decline of at least 90 percent, as average daily revenue is off 96 percent year-over-year through the first 16 days of the month.<\/strong><\/p>\n<\/div>\nAs visits rebound, analysts could turn their attention to what demographic is driving the Macau recovery, mass market or VIPs. If it’s the former, Galaxy Entertainment and Las Vegas Sands<\/a> would likely benefit, because they’re the dominant mass market operators in Macau.<\/p>\n","protected":false},"excerpt":{"rendered":"Break-even, on earnings before interest, taxes, depreciation and amortization (EBITDA) basis, is beckoning for Macau’s six concessionaires. That’s as China resumes issuing tourist visas for entry into the world’s largest casino center. In a new research report, Bernstein says Macau operators could see break-even EBITDA in \u201cmid-autumn,\u201d and it will take revenue returning to 35 […]<\/p>\n","protected":false},"author":46,"featured_media":145174,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\n
Macau Operators Could Be Just Months away from Breaking Even<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n