Macau GGR up 1.8% in December

Revenue was MOP$7.96bn (US$991.4m) in December.
Revenue was MOP$7.96bn (US$991.4m) in December.

Macau has reported full-year gross gambling revenue of MOP86.86bn (US$10.82bn), up 43.7 per cent when compared to the previous year.

Macau.- Macau’s gross gaming revenue (GGR) was up 1.8 per cent month-on-month in December, from MOP6.75bn (US$844m) to MOP$7.96bn (US$991.4m). The figure was also up 43.7 per cent year-on-year.

However, the figure was down 79.3 per cent when compared to pre-pandemic levels.

The December figure was also the sixth-best of the year while October saw the lowest monthly GGR of 2021, mainly due to an outbreak of local Covid-19 cases at the beginning of the month, which led to low numbers of tourist arrivals for the October Golden Week.

Morgan Stanley lowers Macau GGR forecast for 2022

Morgan Stanley Banking Group has lowered its estimate of Macau’s gross gaming revenue (GGR) for 2022 by 30 per cent to US$15bn. 

According to analysts, the market has seen an intermittent recovery, but travel restrictions and regulatory uncertainty will remain in the first half of 2022. They have also reduced their estimate for 2023 by 20 per cent to US$26bn. 

The group now predicts that casino GGR in 2022 and 2023 will reach 42 per cent and 70 per cent of pre-pandemic levels in 2019, respectively. 

They forecast that Macau casino earnings before interest, taxes, depreciation and amortization (EBITDA) will fall by 40 per cent and 8 per cent in 2022 and 2023, respectively, to US$3.81bn and US$8.31bn.

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