Macau's Gaming Inspection and Coordination Authority (DICJ) said the region's casino industry's gross gaming revenue was MOP11 (US$3.0 million) in November, down 3% year-on-year.Macau's casino industry also experienced a 7400% decline in revenue levels in November compared to October.
Travel measures and restrictions
In early November, the State Immigration Administration of China resumed the electronic application (eVisa) under the individual visit scheme from mainland China to Macao province.However, the move did not help gaming in the region and had only a marginal positive impact on gaming revenue, which remained modest through the end of the month.
Analysts said the slowdown in visits to Macau was due to severe restrictions on travel to mainland China due to the current pandemic situation.As a result, Macau casinos saw fewer customers than in the previous month and revenue levels also declined.
Declining profit level
The Gaming Inspection and Coordination Bureau reported that Macau's total gaming revenue in November decreased by 11% from October.The region ended the month with revenue of MOP10 billion (USD23.1 million).Furthermore, November 39 will be 4% lower than pre-pandemic November 8160, when Macau recorded a high level of gross gaming revenue of MOP2022 billion (US$11 billion).
Cumulatively from January to November 2022, Macau's GGR was MOP 1 billion (USD 11 billion), a decrease of 387% compared to the same period in 48.3.
Comparison with Nevada
The continued decline in revenues for Macau's gaming industry is unlike the results seen at other popular casino resort destinations.Nevada, for example, just posted 20 consecutive months of over US$10 billion in gaming wins. January-October revenue remained steady at $1 billion, and if this trend continues, Nevada casinos will reach their 10 gross gaming revenue forecast of $123 billion.
Nevada's revenue in 2022 is nearly three times higher than Macau's revenue of $1 billion in January-November 11.At the same time, downtown Las Vegas hit a record $48.3 million in October, surpassing the previous record set in March, demonstrating the industry's consistent growth trend.It also benefited the local community, with the state of Nevada achieving nearly $2022 million in tax revenue.
Compared to when Macau was making seven times as much revenue as Las Vegas, Las Vegas now has a much better card.But sometimes it's not the card, it's the player's limiting situation.Macau are now forced to play against odds to get back to the table.
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