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Macau GGR takes another dip with recent lockdowns while Vegas thrives

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Las Vegas is getting back on its feet, but recent Covid outbreaks and lockdowns have led to a dive in GGR for Macau.

While the world is slowly returning to normal, the effect of the global pandemic is still being felt. Some regions are shedding the shackles, while others are locking down for yet another wave of Covid outbreaks.

This April, Macau recorded a gross gaming revenue of MOP$2.68 billion (US$335 million), directly influenced by the global pandemic.

Macau hits a low

Macau has hit another dip with the recent Covid outbreaks. The country recorded a gross gaming revenue of MOP$2.68 billion (US$335 million) this April which is a 68% decrease. It’s also 27.1% lower than the GGR recorded for March, which was the lowest recorded in the past 18 months.

From the data received, it appears April’s GGR revenue was the worst for Macau since September 2020, when they brought in MOP$2.21 billion (US$274 million). This figure was 88.6% lower than the April 2019 GGR of MOP$23.58 billion (US$4.71 billion).

The sad reality is that the 2022 GGR is negatively impacted by the COVID-19 outbreaks happening across the mainland of China, including Shanghai and Guangzhou. Shanghai continues to suffer under strict lockdown rules, which started up again late in March 2022.

The released stats indicated that the GGR for Macau has hit rock bottom in the past two months. In January 2022, the GGR was still standing at MOP$6.34 billion (US$784 million). In February, there was a slight increase to MOP$7.76 billion (US$960 million). The January GGR was 20.9% lower than that recorded in 2021, with February’s revenue seeing a 7.1% increase from that recorded in February 2021.

The drop in revenue comes as no surprise. A recent report from Bernstein analysts predicted that a decline in gambling revenue is expected. That being said, the April results are the worst the gambling industry in Macau has seen since the start of the pandemic in 2020.

In the past two years, there have been various restrictions in play directly impacting the gaming industry in Macau and China. On top of that, the reduction in travelling has also played a role in decreasing revenue.

The latest results show that there has been a 1/3 decrease in revenue for the Macau gaming industry. And the road to recovery will be long and hard, considering the current restrictions and lockdowns still in play. With this in mind, Macau might be facing a challenging year with more disappointment in terms of revenue decrease for 2022.

Vegas is flourishing

For Las Vegas, the days of lockdowns and other restrictions are slowly clearing. And with it, the industry is gradually returning to normal. Which is a nice change from the events from the past two years.

In general, the US casino sector has seen a record year so far, with the land-based casino sector making a rapid recovery.

According to the American Gaming Association (AGA), the gaming revenue generated by non-tribal casinos since January 2022 has been a record high. In February 2022, the GGR from all verticals totalled $8.92 billion, a 34% improvement from February 2021 and a 19% improvement from February 2019.

In March, the GGR for Nevada Casinos reached another record high totalling more than $1.355 billion.

The AGA President and CEO, Bill Miller, believes this record start to the year’s revenue demonstrates the sustained momentum of the industry’s recovery.

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