{"id":203212,"date":"2022-03-01T07:01:48","date_gmt":"2022-03-01T15:01:48","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=203212"},"modified":"2022-03-01T11:29:52","modified_gmt":"2022-03-01T19:29:52","slug":"macau-casinos-post-positive-february-2022-revenue","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-casinos-post-positive-february-2022-revenue\/","title":{"rendered":"Macau Casinos Post Positive February Revenue, as Mass Play Returns"},"content":{"rendered":"

Macau casinos generated gross gaming revenue (GGR) of MOP7.76 billion (US$963.8 million) in February of 2022.<\/p>\n

\"Macau
The downtown Macau skyline. Macau casinos won roughly $964 million in February 2022, a nice improvement on February 2021, but less than a third of the casino income generated in February of 2019. (Image: Unsplash)<\/figcaption><\/figure>\n

Last month was a strong performance for the casino hub that remains under China’s “zero COVID” policy. The draconian response to even the smallest of new COVID-19 detections has greatly limited Macau’s ability to recover from the pandemic times.<\/p>\n

February was a roughly 6% improvement on February 2021. More promising is that the February casino win represented a more than 22% premium on January 2022.<\/strong><\/p>\n

But to highlight how depressed Macau’s gaming industry remains<\/a>, GGR in February of 2019 totaled approximately MOP25.3 billion (US$3.15 billion). Macau government officials desperately need the region’s casinos to return to that level of business, as gaming taxes accounted for around 80 cents of every tax dollar<\/a> received prior to the pandemic.<\/p>\n

Mass Return<\/b><\/h2>\n

Gaming analysts focused on the world’s richest gaming market believe mass play — aka the general public — has returned to nearly 50 percent of pre-COVID levels. Travel restrictions have been slowly easing across mainland China, as well as in its two Special Administrative Regions (SARs) — Macau and Hong Kong.<\/p>\n

\n

Mainlanders, Hongkongers, and Taiwanese can presently enter Macau so long as they have not traveled internationally within the past three weeks. Hongkongers and Taiwanese travelers must present a negative COVID-19 test conducted within the past 24 hours. People arriving in Macau from the Guangdong Province can present negative tests collected within the past 48 hours.<\/p>\n<\/div>\n

The entry easing — most critically being the doing away of mandatory quarantines and medical observations — has allowed a substantial component of the mass market to return. But the “zero COVID” understanding lingers.<\/p>\n

“The question is how sustainable this level of demand will be in coming months, given seemingly rising COVID-19 cases in the mainland, especially in Guangdong — which accounts for the majority of Macau’s visitors,”<\/strong> explained JPMorgan Asia Pacific analysts DS Kim, Amanda Cheng, and Livy Lyu.<\/p>\n

VIPs Stay Away<\/b><\/h2>\n

China’s assault on VIP junket groups that facilitate travel for the mainland’s wealthiest gamblers has resulted in the industry segment essentially disappearing.<\/p>\n

Macau analysts say VIP volume in February was just 5% of its pre-COVID levels. Of that estimated 5%, the JPMorgan team says nearly all of those players were “direct VIP” customers. Direct VIP refers to gamblers who work directly with the casinos of their own accords.<\/p>\n

\n

February can be one of the busier times in Macau, as the Chinese New Year is often celebrated during the month. The annual public holiday typically gives Chinese people a week off to travel and vacation across the mainland. Many China residents opt to venture to Macau.<\/p>\n<\/div>\n

Macau tourism officials counted a record 1.2 million entries during the Chinese New Year in 2019 that ran from February 4 through February 10. For the seven days of the holiday in February of 2022, the total visitor count was only 113,700 people. However, that mark is a 25.4% recovery on the Chinese New Year in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau casinos generated gross gaming revenue (GGR) of MOP7.76 billion (US$963.8 million) in February of 2022. Last month was a strong performance for the casino hub that remains under China’s “zero COVID” policy. The draconian response to even the smallest of new COVID-19 detections has greatly limited Macau’s ability to recover from the pandemic times. 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