Macau recorded a gross gaming revenue (GGR) of US$459 million in March 2022. This amount is 56% lower than the previous year and 54% lower than the GGR recorded in February, according to the Inspection Directorate data. and Games Coordination (DICJ).
This GGR total is the lowest since September 2020 and worse than the average analyst estimates of 55%. Revenue was down 86% from pre-COVID-19 pandemic levels in March 2019. Accumulated gross revenue also plunged 25% in March compared to a year earlier.
The rapid slowdown in March dashed hopes of a gradual recovery, as had been suggested in January and February of this year. Furthermore, the reintroduction of travel restrictions and social distancing measures following the increase in COVID-19 cases in neighboring areas of Macau helped fuel this slowdown.
It should be noted that lockdowns in major Chinese regions and cities, including Shanghai and Hong Kong, have contributed to a significant reduction in the number of tourist visits to Macau.
Macau visitor data for March is also widely expected to decline sharply compared to the previous month. In the first two weeks of March alone, visitation decreased by 23% compared to the same period in February.
An ongoing series of lockdown measures, which have plagued Chinese territories for more than two years, show no signs of abating as China persists with its zero-tolerance policy on COVID-19.
Macau is undertaking a review of gaming and casino regulations
But, this is not the only problem Macau is currently facing. The region is in the midst of changes to gaming regulations and updates to casino licenses, as well as a complete overhaul of its junket system.
