Macau has recorded two new Covid-19 cases over the weekend, which may halt the Golden Week plans for casinos.
The city entered a state of immediate prevention, and has imposed travel restrictions before the holiday in October, but experts believe the situation could mean cancellation from mainland visitors. Analysts from Morgan Stanley said they expect visitation to Macau to drop 15% quarter-on-quarter, with a 26% drop in revenue.
Golden Week is set to take place between 1-7 October, and Macau was hoping it would provide a boost in revenue, especially for casinos. The city expected close to 35,000 daily visitors, with 80% hotel occupancy, reported AGB. The situation is similar to the August outbreak that also saw a variety of restrictions, and it had a significant impact on the GGR and visitation figures.
“While there’s still a possibility that travel restrictions could be lifted before/during Golden Week, we think it’s a foregone conclusion that it will be an ungolden holiday, as many players are likely to cancel the trips to avoid risks of being quarantined upon their return to mainland,” said the experts.
Travel between Macau and the Zhuhai region has been restricted as well. Zhuhai has suspended the ferry service between the two, and requires visitors from Macau to present a negative nucleic acid test within the past 24 hours. While casinos in Macau will remain open, many other recreational facilities have been closed. The staycation program aimed to encourage locals to visit tourist attractions has also been suspended, with the government encouraging people not to go out and not leave the city unless necessary.