Bernstein predicts the Macau lockdown to be extended beyond 7 days

Bernstein analysts reduced their GGR forecast for Macau, as they believe that the lockdown “may last longer than seven days.”
Bernstein’s lead analyst Vitaly Umansky noted that the current outbreak has made a significant dent in the GGR forecast.

“Macau is still at the height of its biggest-ever COVID outbreak and has reported 1,785 positive cases since June 18. Starting from July 11, Macau has escalated the COVID measures to order a city-wide lockdown for 7 days (Jul 11-18) to contain the outbreak. Casinos will now be shut during this 7-day period.”

“Expectations are already in place for a very poor GGR environment in July. We think the closure is not a meaningful fundamental impact, but could weigh on trading sentiment. There was already effectively a border closure since June 22 when China (Zhuhai) imposed 7-day hotel quarantine for people entering from Macau. These measures are set for the GGR to plummet close to zero for the next few weeks.

Source: https://agbrief.com/news/macau/12/07/2022/bernstein-predicts-the-macau-lockdown-to-be-extended-beyond-7-days/