Macau gaming revenue down 51% in 2022

Macau’s gross gaming revenue was US$5.25bn for the full year.

Macau.- According to data released by the Gaming Inspection and Coordination Bureau (DICJ), Macau’s casinos reported MOP3.48bn (US$433n) in gross gaming revenue in December, down by 56.3 per cent year-on-year but up 16 per cent from the previous month.

For full-year 2022, Macau’s casino GGR decreased by 51.4 per cent compared with 2021 to MOP42.19bn (US$5.25bn). That’s just 14 per cent of pre-pandemic 2019 and the lowest yearly figure since 2004.

See also: Macau casinos to increase non-gaming investment if GGR reaches US$22.45bn

Macau to reach 95% of pre-pandemic levels in 2024 – JP Morgan

DS Kim, an analyst with JP Morgan, has predicted that Macau’s gaming industry could reach 95 per cent of pre-pandemic levels in two years’ time. Kim says the recovery will be driven by pent-up demand from an expanding mass market.

DS Kim cited two reasons for the optimistic outlook: Macau’s policy allowing the government to lower taxes by up to 5 percentage points for operators that attract more foreign tourists and an increase in the market-wide cap on gaming tables to 6,000 from January (around 4,000 tables were directly operated by casinos in 2019).

See also: Only 11 satellite casinos will remain in Macau from January 1