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Macau casinos see record revenue decline

Macau's total gross gambling revenue fell to a record low in April 2022. Year-on-year, the decline was more than 68%, the lowest in nearly two years.

Compared to the previous month, the decline was 27.2%. The final result for revenue was about 455 million dollars. Let us recall that in March this figure exceeded 600 million dollars, in February it was almost 960 million dollars, and in January – about 785 million dollars. There are about 40 casinos in Macau, which are managed by the largest corporations. Among them are such famous ones as:

• SJM Holdings Limited and Wynn Macau Limited;
• MGM China Holdings Limited and Sands China Limited;
• Melco Resorts and Entertainment Limited and Galaxy Entertainment.

The result for the first 4 months of the current year in relation to all gambling establishments can be considered a failure. The total gross income decreased by 36%. In annual terms, this is slightly more than 2.5 billion dollars.

Such disappointing results were predicted by many analysts of the Macau gambling market. This happened due to the ongoing restrictions related to the coronavirus, which has been forgotten in the rest of the world. New outbreaks of this annoying disease are being recorded in China. One of them was recorded in nearby Guangzhou. A little earlier, there was an outbreak of coronavirus in Shanghai, which is home to more than 25 million people. Residents of the city have been in strict quarantine since the end of March.

However, some analysts expect Macau casino revenues to improve by the end of the year as some regions in China are easing restrictions. In particular, this is happening in the neighboring province of Guangdong. There, the validity period for tests for the absence of the disease has been extended from 24 to 72 hours, which means potential players can safely travel to Macau and have some fun. Naturally, with negative test results.