Macau GGR up 33.1% in February
February GGR was the third-highest since January 2020.
Macau.- Rhe Gaming Inspection and Coordination Bureau (DICJ) has reported that Macau’s casinos reported MOP10.32bn (US$1.27bn) in gross gaming revenue in February. That’s an increase of 33.1 per cent year-on-year but down 11 per cent when compared to January.
January this year included the Chinese New Year holiday period, which boosted GGR to MOP11.6bn (US$1.4bn). In 2022, China’s lunar new year holiday had fallen mostly in February. February’s GGR was the third-highest since January 2020 but represents only 40.7 per cent of the 2019 level of MOP25.37bn.
GGR for the year to date is MOP21.9bn, representing a 55.3 per cent increase. This cumulative amount has already surpassed more than half of the revenue generated last year.
According to analysts DS Kim and Mufan Shi from JP Morgan, the results show a daily run-rate of MOP369m, consistent with January’s rate of MOP374m per day, even without the holiday period. It said that February’s gaming revenue indicates a 65 per cent recovery for the mass market and a 15 per cent recovery for the VIP segment.
Macau’s casinos hae benefited from the lifting of Covid-19 measures in China and the resulting increase in tourist arrivals. For full-year 2022, Macau’s casino GGR decreased by 51.4 per cent compared with 2021 to MOP42.19bn (US$5.25bn).