Total gaming revenue (GGR) achieved by Macau casinos in February was MOP 10.32 billion ($1.27 billion), the third-best monthly GGR performance since January 2020, regardless of the end of the festive season and fewer monthly days than in January.
GGR level:
Asian Gaming Brief sends information from the Gaming Inspection and Coordination Bureau (DICJ), which indicates that Macau’s total gaming revenue in February 2022 was 33.1% higher than the same month last year. At the same time, this month’s GGR level was about 11% lower than in January, boasting an MOP of $11.58 billion ($1.43 billion), the highest revenue level since 2020.
High consecutive numbers:
February 2023 $1.27 billion, which hit $2.74 billion in January 2020 and $1.43 in January 2023, is the third-best regional gaming performance in three years. On a year-over-year basis, February 2023 represents just 41% of the February 2019 MOP of $25.04 billion ($3.1 billion). This year’s numbers, however, prove a full market recovery, with sales surging for the second month in a row after hitting levels as low as MOP $398 million ($49 million) in July 2022, when Macau’s first major coronavirus outbreak was at its peak.
Game Industry Recovery:
These days, COVID-19-related restrictions have been lifted, and a recovery is also taking place. Beginning earlier this week, Macau casino operators will no longer have to wear protective masks to their employees and customers inside their resorts in line with the government’s easing policy. The milestone in those measures and the uptick in Macau gambling activity was Jan. 8, 2023, when gambling facilities reopened after a months-long closure ahead of the Chinese New Year.
Many game operators noted that the Chinese New Year holiday season drove the long-awaited recovery of the gaming industry in January. That’s when visits from China, Hong Kong and Taiwan resumed, bringing the nearly 300% more visitors to about 450,000 people.
Third highest performance in three years:
The February GGR also continued the same trend, although it did not include holidays. The month was the third-best performer in the last three years, following January 2020, just before COVID-19 restrictions were fully implemented. It also followed the second-best January 2023 score, suggesting a much brighter future for the Macau industry.
Bright Prospects:
In January, GGR hit $1.43 billion and February sales reached $1.27 billion. If this trend continues throughout the year, it is estimated that total gaming revenue in 2023 could reach over $15 billion by the end of the year. That would be higher than the previous three years. In fact, 2020 GGR was only about $7.5 billion due to the pandemic, 2021 sales reached about $10.5 billion, and 2022 total sales were only $5.3 billion. It would also be about the same as the total gaming revenue reached over the last two years.
Recently, the GGR situation in Macau has improved and expectations in the casino industry are growing. Anyway, it seems that Macau’s wheels are finally returning to normal speed.
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