The Macau government is forecasting gaming revenue to recover in 2021 to close to half the US$36.5 billion generated in 2019.
The projection is based on a recovery in visitation to around 14 million arrivals for the year, or roughly 35 percent of 2019’s record 39.4 million.
Visitation this year is expected to fall below 6 million, and almost half of that dates back to January, before the pandemic hit.
The forecasts, incorporated in the government’s fiscal 2021 budget, were presented to the Legislative Assembly on December 16 with the assumption that travel from Hong Kong, currently subject to mandatory Covid testing and quarantine, resumes by mid-year at something approaching pre-pandemic levels, when it comprised around 10 percent of all arrivals and was a lucrative segment of gaming revenues for the territory’s 39 casinos.
Secretary for Economy and Finance Lei Wai Nong said in November that with Hong Kong back in the mix casino win could average of MOP350 million ($44 million) a day.
“As long as mainland China and Hong Kong tourists are coming into Macau, an average daily gross gaming revenue at MOP350 million should be achievable,” the government said in its presentations. “And, subsequently, we have forecast gross gaming revenue for next year to be MOP130 billion.”
The total, if it pans out, would equate to around $16.3 billion.
