Morgan Stanley Asia reconsidered the results estimates for the gaming industry for this year and 2023. The most significant revision, 15 percent, concerns the results expected until the end of 2022, pushed by the outbreaks of covid-19 in the Interior and the consequences of issuing electronic visas
On Monday, Guangzhou authorities confined Baiyun district, home to more than 3.7 million people, halted traffic and canceled classes, in response to the outbreak affecting the capital of neighboring Guangdong province, the country’s biggest market. of tourists and gamblers who traditionally feed Macau’s casinos.
Since the end of October, some areas of Guangzhou have been the target of confinements, a situation that has even led to protests from the population.
With the outbreaks of covid-19 spreading across Mainland China, the broker Morgan Stanley announced on Monday that it was revising downwards the forecasts it had made regarding the results of casinos in Macau for this year and 2023.
The most substantial revision concerns the results for 2022, with a 15 percent cut in expected gross revenues, for a total of US$5.6 billion, a value that stands at around 15 percent of gross revenues calculated in 2019.
Regarding the prospects for 2023, analysts at Morgan Stanley lowered the estimate by 3 percent, to a total of 16 billion dollars in gross revenues, a bar that means about 43 percent of the 2019 results. line with the estimates of the Macao SAR Government for 2023”, said analysts Praveen Choudhary and Gareth Leung.
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