Macau GGR Drops 95% YOY Following Covid Closures
There have been no new reported Covid-19 cases in Macau for nine consecutive days allowing for the city’s leisure facilities, including casinos, to reopen fully on 2 August.
The news came after all results from the fourteenth round of nucleic acid testing, a viral diagnostic test, were negative for the virus. However, in order to gain entry to a casino, players will have to wear a mask and present a negative test result no more than three days old.
Casinos have been allowed to open for approximately a week already, but with very limited operations. As such, today’s news is sure to come as a relief to the industry after the city’s gross gaming revenue (GGR) fell 84% in July when compared to June.
Data from the Gaming Inspection and Coordination Bureau (DICJ) showed that revenues were MOP$398 million in July, the worst monthly performance since the start of the pandemic. It is also a drop of roughly 95% year-on-year from MOP$8.44 billion.
This continues a negative trend that can be traced back several months. In June Macau’s GGR was MOP$2.47 billion, a fall of 62% year-on-year and in both May and April the GGR was down 68%. With the exception of February, every month in 2022 has seen Macau post a double-digit drop in GGR.
This is largely due to the fact that Macau is enforcing China’s Zero Covid policy. The recent restrictions have made travel between Macau and Chinese mainland difficult, which led to a significant drop in player numbers.