Substantial Drop in Macau Casino GGR
The GGR (Gross Gaming Revenue) in the popular gambling region of Macau fell significantly month-on-month for February, by 10.8 percent, as the market continues to steer through turbulent waters.
However, despite this, the region is still up year-on-year by 33.1 percent - hardly surprising when considering that COVID-19 saw this closed for the majority of last year.
While the market is seemingly starting to rally, there still appears to be a lack of confidence among players and stakeholders alike.
Is Macau Ever Likely to Return to ‘Normal’?
Previous unprecedented gambling figures that Macau was recording some years will seem like a distant memory to some of the region’s biggest and most iconic casinos as they continue to suffer the effects of the recent global pandemic.
However, it will take confidence from the fact that Las Vegas has rallied considerably over the last couple of years, with the popular resort operating at almost full capacity, in addition to numerous construction and real estate developments taking place.
For now, Macau can only glance enviously west. However, its purpose never was to create a ‘Vegas’-style experience. Despite this, it appears that it is exactly what it will get and, as a result, could help casino figures return to normal.
It was announced in December that Macau had signed six licensing deals with predominantly US operators, which are understood to have committed well in excess of $12 billion in investment as a means of almost regenerating the area.
As a result, the plans are to see the resort include many more tourist attractions to help this appeal to a bigger market, with this central to the development.
Numerous restaurants, art galleries, hotels, gardens, and even a water park have reportedly been mentioned by representatives of the investors, with the aim being to generate income for the wider area, which should appeal to a different type of casino goer. Indeed, those who also like to have fun as well as frequent the tables.
It is hoped that such an initiative can boost the local economy as well as create jobs, while it could also have a positive impact on GGR for years to come.