[ET Net News Agency, 29 January 2020] Citi Research said the Chinese government's
recent ban on outbound group travel has led to an unprecedented decline in visitation to
Macau during the Chinese New Year (CNY) Golden Week.
During the first four days of the Golden Week, total visitation fell 69%. Visitation
from China is apparently the major reason for the decline (total visitation from China
amounted to 111,723, down 75%).
The research house said the negative impact on Macau's gross gaming revenue (GGR), as it
is a function of when the ban will be removed.
Citi has previously forecasted Macau to generate GGR of MOP1.2bn/day during the final
four days of the CNY Golden Week. This represents 7% of its 1Q 2020 GGR forecast. It now
expects further downside risk to GGR.
But Citi anticipates the pent-up demand, together with the positive impact from the
infrastructure improvement around Macau, to reignite GGR growth in 2H 2020. (KL)
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01128 WYNN MACAU
Nominal 
7.470 +0.150 (+2.049%) Others
29/01/2020 15:09
{I-bank focus}Citi sees downside risk to Macau GGR
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