Macau recorded gross gambling revenue (GGR) of MOP$2.18 billion (US$270 million) in the month of August, down 51% from the same period last year, when the reported amount was nearly double.
The figure, according to the Macau Gaming Inspection and Coordination Office (DICJ), nevertheless represents a big change from last month’s total of 398 million patacas, the city’s worst monthly performance since the beginning of the pandemic. , with restrictions taking their toll. The value meant a 95% reduction in GGR.
Despite the GGR down 51% from August 2021, the trend of shrinking revenues is apparently set to stop in August 2022, with the monthly increase providing at least some confidence in the market rebound.
The August figure, however, represents the second lowest total for 2022 so far, after the July figures. February was the only month of the year not to report a decline in revenue, with GGR up 6% from February 2021.
It should be noted that the low figures and reductions throughout this year were partly attributed to a decrease in international and interprovincial travel from mainland China, as a result of the Zero Covid-19 policy applied by the Chinese government.
Gross revenue from the gaming market is totaling MOP$28.85 billion at this point in the year, with this amount pointing to a 53% decrease in earnings for the segment compared to the previous year. At this point in 2021, gross gaming revenue in Macau was already over 61 billion patacas.
Casinos and game rooms closed in Macau recently
Remembering that casinos and game rooms were forced to close for a period in July because of the increase in cases of Covid-19 in the region. The new restrictions measures further affected local businesses.
After all, casinos and gambling make the iGaming industry the most important in Macau, representing a high employability rate and over 80% of government revenue.
