Macau’s January GGR sees 64% year-on-year decline

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Macau’s January GGR sees 64% year-on-year decline

The Gaming Inspection and Coordination Bureau (DICJ) in Macau has reported MOP8.02bn ($1bn) in gross gaming revenue for January, a 64% year-on-year decline.

However, the sum is an almost 3% increase on December’s revenue figures.

In December, Macau’s casinos earned MOP7.82bn, a near-66% drop, but this figure was the sector’s highest since January 2020. The sum was also up 16% sequentially.

In December, close to 659,407 people visited Macau, the seventh month in a row to see increased visitation numbers.  

Meanwhile, Sanford C. Bernstein suggested January’s figures have been impacted by increasing cases of COVID-19 and the travel restrictions placed on China.

The agency named the week between 18 and 24 January as the affected period, adding that tourism during Chinese New Year, taking place on 11-17 February, will likely see a similar dip due to pandemic measures and government advice to avoid travel for the holiday period.

For 2020, Macau’s total GGR was MOP60.44bn, a 79% decline. China International Capital Corp (CICC) predicts Macau casino EBITDA will reach 2019 levels by the fourth quarter of 2021. The possible recovery is linked with cost savings by gaming operators and capacity expansions of Cotai projects that will launch later in the year.

That said, though, even 2019 levels were a slight decline on 2018.

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