BREAKING NEWS – Gaming revenues improve 54 pct sequentially in November

Following the year’s worst gross gaming result tally in October, gaming results have improved by 54 per cent to MOP6.7 billion (US$840.5 million) in November, data published today by the Gaming Inspection and Co-ordination Bureau (DICJ) reveals.

The prior month had reported a dismal Golden Week after 12 local Covid-19 were discovered, however as the pandemic situation in the SAR was controlled and daily visitor numbers improved to more than 50,000 a day in November, so did gaming results.

However, November results have remained basically the same as in the same month of last year, with only a minimal 0.01 per cent improvement.

Local authorities predicted the year would end with a total of MOP130 billion in gross gaming revenue, however, after outbreaks in the SAR and the mainland continued to impact visitor numbers, combined with the continuing shrinking of the VIP market pool, total results reached MOP78.9 billion by November, some 60 per cent of what was expected.

Results between January and November of this year were 50 per cent higher than the same period last year, albeit with a low basis of comparison considering the pandemic impact.

The Macau SAR government has repeated the MOP130 billion estimate in gross gaming revenues and MOP45.5 billion in gaming taxes collected for 2022.

The reduction in gaming tax revenue has led authorities to resort to MOP90.8 billion from the extraordinary financial reserve since the start of the pandemic in early 2020 to balance the local budget after advancing with several economic stimulus and support policies.