[ET Net News Agency, 5 February 2020] The Macau government has asked casino operators
to suspend operations for 15 days during 5-19 February 5-19.
J.P. Morgan said its "pre-virus" estimates expect February to account for 7-8% of
annual gross gaming revenue (GGR) in 2020 (US$2.8bn out of US$37.7bn full-year). The
research house had estimated visa/travel restrictions would reduce February GGR by 50%,
which is equivalent to 4% of annual GGR (or US$1.4bn).
Half of left-over from visa/travel restrictions could be further wiped out from the
shut-down, hence an incremental 2% impact on annual GGR, or a total of 6% impact
reflecting virus/visa/shut-down. Hence, Macau February GGR is expected to drop roughly 75%
to US$0.7bn (versus US$2.8bn originally), which in turn would reduce JPM's annual GGR by
6%.
JPM added that its analysis suggests a 75% cut in February GGR (or 6% annual GGR impact)
would reduce its annual EBITDA forecasts by 10% given negative operating leverage. (KL)
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01128 WYNN MACAU
Nominal 
7.470 +0.150 (+2.049%) Research Report
05/02/2020 15:20
{I-bank focus}Macau's February GGR seen down 75% - JPM
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