Macau Gambling Revenue are Down 56% for November
Once again, all eyes are on, the Chinese autonomous region known for being the biggest gambling hub in the world. Yes, we are talking about Macau, who made the news recently for giving new gambling license to 6 casino operators. However, this time around the gambling industry news is not good as Macau Gambling Revenue are Down 56% for November.
Despite several attempt to boost the Macau gambling industry to pre-COVID level, the past few years have not been good. According to gambling insiders, the 56% drop in revenue is on a year-on-year comparing November 2021 and 2022. The latest figures come from the Macau Gaming Inspection and Coordination Bureau (DICJ). These number show that Macau Gaming Operators only made MOP$3 billion (€358.5 million) for the month of November 2022.
Furthermore, this represents a 23% decline in revenue in comparison to October 2022 when they had made MOP$3.89bn in revenue. If we go further back, this is an 87% revenue from November 2019 when Macau had a MOP$22.88bn CGR.
Needless to say, this 2022 will be a year the gaming industry in Macau wants to forget.
Macau Gambling Revenue are Down 56% for November Despite eVisas Resumption
According to Pay Per Head providers, the decrease in revenues come despite attempts to jumpstart the tourism and gaming industry. The latest attempt was made by the resumption of e-Visas in Macau at the beginning of the month. However, restarting the e-visa program had little to no impact on tourism and gambling industry in Macau.
The main reason for this is because of the current the visas are for mainland Chinese resident to visit Macau. However, last month and still going on at the moment is a large COVID outbreak taking place in mainland China. Therefore, there are several traveling restrictions taking place at the moment.
the tourism and gaming industry through the resumption of electronic visa applications (eVisas) for tourists wishing to visit the island territory. The scheme which allowed visitors from mainland China to apply for their visa online restarted at the beginning of November.
So far, far the 2022 gambling industry CGR in Macau from January to November is only MOP$38.71bn. Overall, these numbers represent a 51% decline from the prior-year period. This is when the GGR was to MOP$78.9bn in the first 11 months of 2021.
During that period of time, February 2022 was the highest month with MOP$7.75bn in revenue. Furthermore, it was the only month in which the GGR grew year-on-year, with the total up 6% from February 2021.
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