Macau Casino Win in May Totals Just $413M, Nearly 90 Percent Lower Than 2019

Macau cassino revenue lastly month totaled just MOP3.34 1000000000000 (US$413.7 million). While that’s a 25% improvement from Apr 2022, the gaming win was 87% infra May 2019.

Macau’s Gaming Inspection and Coordination Bureau reported that May revenue gaming revenue (GGR) began a rebound from April, which pronounced the region’s lowest monthly total since September 2020. But with visitant traffic remaining light, GGR inwards what was the world’s richest gaming securities industry prior to the pandemic remains greatly suppressed.

May 2022 represents a $2.8 billion reduction inward gaming income compared with May 2019. Last month was also 68% at a lower place May 2021, when the sise licensed casinos won just about $1.3 one thousand million on their gaming floors.

Through five months of 2022, GGR is at $2.9 billion. That’s downwards 44% year-over-year and 81% less than the same fin months inwards 2019.

Market analysts say casino business concern testament only if substantially improve when mainland People's Republic of China to a greater extent freely allows people to move around without COVID-19 testing requirements.

Macau Market Remains Unsettled

Macau gambling casino stocks gained value during trading yesterday on news that Shanghai is conclusion its draconian lockdown that persisted for more than deuce months. With no more recent COVID-19 deaths and unexampled cases trending at their lowest levels since too soon March, China’s financial capital is no more thirster mandating its 25 gazillion residents remain stray to their homes except for indispensable trips.

Though pandemic conditions are up on the mainland, mainland China continues to hold fast to its “zero COVID” insurance policy that results inwards basal responses to coronavirus outbreaks. The pandemic strategy, paired with ongoing limitations on cross-border move into Macau, continues to cramp the casinos, gaming analysts say.

May GGR shouldn’t come up as a surprise given mobility curbs and weak travel sentiment (especially for cross-provincial and cross-border trips) inward mainland China. We sight these GGR prints as non-events until a sensible take down of traffic flow resumes with gradual alleviation of China’s travel/border policy,” a billet from JPMorgan read.

A fleck of that edge moderation came today with Macau authorities lengthening the validity of negatively charged tests for entry from 72 hours to VII days.

However, travelers arriving past automobile or ferryboat from Guangdong remain modified to presenting a disconfirming prove conducted within the past tense 72 hours. The neighboring responsibility delivers Macau more yearbook visitors than any other neighborhood inward China.

Frequent Visitor Crackdown

Adding to the unease inwards Macau is China’s recent determination to boundary the keep down of times known mainland gamblers are allowed to call in the gambling casino hub. Last month, reports surfaced that mainland authorities began denying visa requests for Chinese citizens who haunt Macau specifically to gamble.

The COVID go impediments and potency visa command on frequent gamblers may uphold to impact near-term visitation and GGR,” a notation issued today from Sanford C. Leonard Bernstein explained.

With cross-border travelling remaining content to testing, and Communist China limiting the list of times a mainlander tin inspect Macau to gamble, Bernstein forecasts that June GGR will come in inwards around MOP4.9 1000000000 (US$610 million). While that would follow a 47% melioration on May, the predicted June ’22 GGR would allay live almost 80% below June 2019.