WYNMF - Macau revenue forecast to rebound in July as travel restrictions ease

SeanPavonePhoto/iStock via Getty Images Jefferies is incrementally bullish on Macau with some signs of travel restrictions easing. Analyst David Katz says the Macau June gross gaming revenue disappointment is a temporary setback. He notes that there are no local infections in Guangdong since June 22 and government indications are that Hong Kong could reopen in mid-July on a limited basis. "This is consistent with our expectation for gradual recovery in Macau," he adds. Meanwhile, Bank of America notes that Macau announced a number of travel relaxations for visitors from Guangdong last week. The Macau government lifted a quarantine requirement for people travelling from Daishi District in Panyu, Guangzhou to leave Ruili in Yunnan Province as the only city in Macau's quarantine list. BofA says Macau will also accept COVID test certificate within seven days of arrival to Macau. Notably,  BofA forecasts July GGR to be in the range of 8.7B

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Macau revenue forecast to rebound in July as travel restrictions ease