Macau has reported gross gambling revenue of MOP3.67bn (US$454.5m) for March, down 52.7 per cent month-on-month.
Macau.- Gross gaming revenue (GGR) from Macau casinos was down 52.7 per cent month-on-month in March, from MOP7.76bn (US$963.8m) to MOP3.67bn (US$454.5m). The figure was the lowest since September 2020, when the tally was MOP2.2bn.
Macau’s GGR was also down 55.8 per cent when compared to March 2021, when revenue was MOP$8.3bn (US$1.04bn).
According to analysts at Sanford C. Bernstein Ltd the tightened border policy remains “the main dragger” of poor GGR. The Gaming Inspection and Coordination Bureau‘s figures show that Macau’s GGR for the first three months of 2022 combined stands at MOP17.77bn (US$2.19bn), down 24.8 per cent year-on-year.
All Macau casino operators have requested extension of concessions
It’s been confirmed that all six Macau casino operators have applied to extend their concessions pending a retender later in the year. The current licences are to expire in June, but last month Lei Wai Nong, Macau’s secretary for economy and finance, confirmed that licences would be extended until December 31.
Macau’s gaming law amendment bill, which is still in debate, would allow up to six gaming concessions with a length of 10 years and the possibility of a 3-year extension. A final reading of the gaming law amendment bill is expected by June.