GGRAsia – Macau January GGR down 20pct m-o-m: govt

Macau January GGR down 20pct m-o-m: govt

Feb 01, 2022 Newsdesk Latest News, Macau, Top of the deck

Macau casino gross gaming revenue (GGR) fell 20.3 percent month-on-month in January, according to data released on Tuesday by the city’s regulator, the Gaming Inspection and Coordination Bureau, a body also known as DICJ.

Such revenue was MOP6.34 billion (US$793 million), compared to December’s MOP7.96-billion.

Under pre-pandemic trading conditions, the period in Macau immediately preceding a Chinese New Year was commonly quiet in terms of consumer demand. This time, the lunar new year fell on Tuesday (February 1).

This January saw cases of Covid-19 infection in the Guangdong cities of Zhuhai and Zhongshan, next door to Macau. It coincided with a period of tightening regarding the validity period for Covid-19 testing for cross-border travel. Some investment analysts said that also appeared to dampen demand for trips to Macau.

Mainland China is the only place currently to have a largely quarantine-free travel arrangement with Macau.

Judged year-on-year, Macau’s January GGR was down 20.9 percent.

Compared to January 2020 – i.e., the time immediately prior to the impact on trading of the Covid-19 pandemic – then January 2022’s casino GGR declined by 71.3 percent.

Macau anticipated receiving 20,000 people daily as tourists to the city during the Chinese New Year holidays. The announcement was made over the weekend by a representative from the Macao Government Tourism Office.

China’s State Council has designated the holiday period this time as from Monday (January 31) – the eve of Chinese New Year – to February 6, a Sunday.