• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Fitch expects Macau 2021 GGR at 35pct of 2019 levels

Sep 08, 2021 Newsdesk Latest News, Macau, Singapore, Top of the deck  


Fitch expects Macau 2021 GGR at 35pct of 2019 levels

Fitch Ratings Inc says it expects Macau’s gross gaming revenue (GGR) this year to be “nearly 65 percent below 2019 levels”, i.e., those before the onset of the Covid-19 pandemic. Such revenue would recover to “35 percent below 2019 by 2022,” and fully recover by 2024, said the institution in a Tuesday report.

Casino GGR in Macau was just above MOP292.4 billion (US$36.5 billion) in full-year 2019, before the health crisis took hold. According to Fitch estimates, the city’s casino GGR would reach about MOP102.4 billion this year.

In April, the ratings agency said it expected a recovery in Macau GGR “to about half” of pre- Covid-19 levels.

The Macau government has forecast casino GGR at MOP130 billion for 2021, 44.5 percent down on 2019 levels, saying that the recovery from the pandemic would “take time”.

Aggregate casino GGR in the first eight months of 2021 stood at nearly MOP61.91 billion, an increase of 70.1 percent on the MOP36.39 billion achieved in the prior-year period. The result was down 68.8 percent from the first eight months of 2019.

Fitch’s report focused on U.S.-based casino operator Las Vegas Sands Corp, the parent of Macau gaming operator Sands China Ltd. The parent group also runs – via a subsidiary – the Marina Bay Sands casino complex in Singapore.

In the memo, Fitch said it assumed a “slightly faster trajectory” for Singapore, “which has a high vaccination rate, benefits from strong domestic demand, and is starting to open up quarantine-free travel with certain… countries.”

In Tuesday’s report, Fitch affirmed Las Vegas Sands’ issuer default rating at ‘BBB-’, an investment grade, and gave it a negative outlook. The same action covered Sands China and Marina Bay Sands Pte Ltd.

The move took into consideration Fitch’s revised recovery projections in Macau and Singapore, “which are weaker relative to prior expectations,” stated the institution.

It stated: “Despite the near-term ongoing weakness caused by international travel restrictions, Las Vegas Sands is expected to return below Fitch’s 3.5 times net leverage sensitivity by 2022.”


  • tweet
Related articles
  • Philippine 2023 GGR likely 5pct up on 2019: consultancy
    Philippine 2023 GGR likely 5pct up on...

    Nov 30, 2023  

  • Macau op premium play reinvestment 17pct of GGR: CLSA
    Macau op premium play reinvestment...

    Nov 30, 2023  

More news
  • ‘Treasure Island’ enriches Pragmatic Play Live Casino offer
    ‘Treasure Island’ enriches...

    Nov 30, 2023  

  • Konami Gaming names Eric Schultz as VP of studio operations
    Konami Gaming names Eric Schultz as VP...

    Nov 30, 2023  


Latest News

Philippine 2023 GGR likely 5pct up on 2019: consultancy

Philippine 2023 GGR likely 5pct up on 2019: consultancy

Nov 30, 2023  

Philippine gross gaming revenue (GGR) could be “US$5.0 billion to US$5.2 billion” for full-year 2023, says industry consultancy GCG Gaming Advisory Services Pty Ltd. Anything toward the top of...
Read More
Macau op premium play reinvestment 17pct of GGR: CLSA

Macau op premium play reinvestment 17pct of GGR: CLSA

Nov 30, 2023  

‘Treasure Island’ enriches Pragmatic Play Live Casino offer

‘Treasure Island’ enriches Pragmatic Play Live Casino...

Nov 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The hotel towers, convention hall, and arena are the cornerstones in Phase 1. The resort is mainly aimed at Koreans first”

Chen Si

President of the Mohegan Inspire Entertainment Resort in South Korea



Most Popular

  • Miriam Adelson selling US$2bln LVS stock to buy sports teamMiriam Adelson selling US$2bln LVS stock to buy sports team November 29, 2023
  • Bruno Mars to perform at MGM Cotai in Jan: MGM ChinaBruno Mars to perform at MGM Cotai in Jan: MGM China November 28, 2023
  • Inspire Arena leads Mohegan debut in Asia gaming resort bizInspire Arena leads Mohegan debut in Asia gaming resort biz November 30, 2023
  • Nomura caution on China economy, China tourism in AsiaNomura caution on China economy, China tourism in Asia November 28, 2023
  • Hokkaido pref assembly LDP members push for IR reviewHokkaido pref assembly LDP members push for IR review November 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us