{"id":31471,"date":"2022-07-06T04:03:37","date_gmt":"2022-07-06T07:03:37","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=31471"},"modified":"2026-04-23T07:07:36","modified_gmt":"2026-04-23T10:07:36","slug":"macau-h1-ggr-performance-at-lowest-since-2006","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-h1-ggr-performance-at-lowest-since-2006","title":{"rendered":"Macau H1 GGR performance at lowest since 2006"},"content":{"rendered":"\n

Kwok Chi Chung, president of the Macau Association of Gaming and Entertainment Promoters, fears the second half of the year could be even worse if China keeps its zero-Covid policy.<\/p>\n\n\n\n\n\n\n\n

Macau.- Casino operators are bracing themselves for another challenging quarter after Macau’s first-half revenue came in at its lowest since H1 2006. Revenue for the\u00a0first six months of 2022\u00a0<\/strong>was MOP26.27bn (US$3.26bn), down 46.4 per cent year-on-year and the weakest since the MOP25.75bn recorded for the first six months of 2006.<\/p>\n\n\n\n

June’s results weighed heavily, with\u00a0gross gaming revenue<\/a>\u00a0plunging 25.9 per cent month on month to MOP2.48bn (US$310m), the lowest monthly GGR since September 2020, amid a new outbreak of Covid-19 cases<\/a>.<\/p>\n\n\n\n

Kwok Chi Chung<\/strong>, president of the Macau Association of Gaming and Entertainment Promoters, told GGRAsia the worst scenario for the city would be another similar six months if Chinese authorities keep their zero-Covid policy.<\/p>\n\n\n\n

After a tough 2020, the city started to show signs of recovery in its tourism business and its casino industry last year. However, several Covid-19 outbreaks in Macau both Macau and mainland China, saw tourism decline for weeks at a time, hurting Macau’s GGR.<\/p>\n\n\n\n

China remains the only country with a largely quarantine-free travel bubble<\/a> with Macau. <\/p>\n\n\n\n

JP Morgan Securities (Asia Pacific) Ltd<\/strong>\u00a0said in a Friday note\u00a0that Macau casino operators<\/a>\u00a0are likely to post negative earnings before interest, taxation, depreciation and amortisation (EBITDA) for the second quarter. Analysts said none of the operators would be able to generate positive EBITDA<\/strong>, not even Galaxy Entertainment Group.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kwok Chi Chung, president of the Macau Association of Gaming and Entertainment Promoters, fears the second half of the year could be even worse if China keeps its zero-Covid policy.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's casino industry recorded its lowest first-half revenue since H1 2006, totaling MOP26.27bn (US$3.26bn), a 46.4% year-on-year decline. June's GGR plunged to MOP2.48bn (US$310m), the lowest monthly GGR since September 2020, driven by new Covid-19 outbreaks and China's persistent zero-Covid policy. Industry figures anticipate negative EBITDA for operators in Q2, with fears of continued severe impact if current policies persist.","focusai_entities":"Kwok Chi Chung, Macau Association of Gaming and Entertainment Promoters, GGRAsia, JP Morgan Securities (Asia Pacific) Ltd, Galaxy Entertainment Group","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau GGR Outlook?","query":"What are the projected GGR recovery timelines and potential policy shifts required for Macau's casino market to return to pre-pandemic revenue levels, considering China's zero-Covid stance?"},{"label":"Operator Financial Resilience?","query":"How are Macau's concessionaires managing liquidity and operational costs to sustain through prolonged periods of negative EBITDA, and what are their contingency plans for capital preservation?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-31471","post","type-post","status-publish","format-standard","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=31471"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31471\/revisions"}],"predecessor-version":[{"id":31492,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31471\/revisions\/31492"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}