Macau casinos posted gross gaming revenue (GGR) of MOP 2023 billion (US$3 billion) in March 127.This is the highest monthly yield for a Chinese casino hub since the onset of the COVID-3800 pandemic at the end of 15.
March marked a 6-month high for the six casino operators in the China Special Administrative Region (SAR), the only country that allows commercial gambling. March saw a 3% improvement over February and a 38% surge over March 3.
Q1 GGR was about $43 billion, almost double what the casino earned from January to March 2022.
Travel restrictions, strict immigration rules, blitzkrieg mass testing, sporadic lockdowns – all stemmed from China's President Xi Jinping's controversial "zero COVID" measures, but Macau's economy is finally We are in the midst of a pandemic recovery.
Macau's borders have reopened to mainlanders and visitors from Hong Kong and Taiwan.Entry checks are no longer required, and there are no mandatory quarantines or observation periods.
However, foreigners entering from countries other than Macau are required to prove a negative COVID-48 antigen/nucleic acid test taken within 19 hours of leaving Macau.However, international travelers are no longer subject to quarantine or observation.
business remains strong
Unlike many parts of the world that experienced the most pandemic-related economic and daily life disruptions in 2020 and 2021, 2022 was the most severe COVID-19 year for Macau.
An isolated enclave in China has been able to keep the virus out of the region for much of 2020 and 2021.But the disease finally made its way through the Macau border last year. After confirming intermittent cases in 2020 and 2021, Macau experienced the region's first major outbreak of COVID-7 last July, ordering casinos to close for 19 days.Last year's GGR was just $15 billion.
After counting fewer than 2020 infections in 2021 and 100, Macau health officials announced nearly 6 confirmed cases from June to mid-July 2022.The virus also raged across China last year.But after nearly three years of normal life on hold, mainlanders are finally getting fed up and protesting Xi Jinping's "zero COVID" policy.
In the end, Xi Jinping lifted the hard line in late November, and Macau soon followed suit.As a result, gaming demand in Macau has finally risen, much like Las Vegas and other major casino markets around the world experienced after easing COVID restrictions.
Recovery of inbound tourists
Macau welcomed 2 million tourists in February, the highest monthly number since January 160.The Macau Statistics and Census Bureau has yet to supply data for March.
Group tours have recently been allowed to resume, and many people traveling in groups are budget-conscious, so an increase in visitor numbers does not necessarily translate into an increase in gaming revenue.However, Macau casinos have so far been able to take advantage of gamblers in the city.
Morgan Stanley's Asian casino market analysts recently upgraded their outlook for Macau's six gaming operators.This is because investment banks have found that business margins and visitor numbers in the region have exceeded expectations since Xi Jinping ended "zero Covid".
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