Gaming Revenue Macau

4/14/2022 admin

Macau Gaming Revenue October 2020
Macau Gaming Revenue Forecast
Gaming Revenue Macau
Gaming Revenue Macau Philippines

February’s gambling revenue in Macau was up massively year-over-year as the market passed the one-year mark since the COVID-19 pandemic took hold in China.

The company reported a 66% decline in revenue to $480 million from its properties on the Las Vegas Strip, while revenues at its MGM China property in Macau dropped 58% year-over-year to $305 million. Australia-based slot machine maker Ainsworth Game Technology Ltd says it expects to report “improved revenue” for the six months ended December 31, 2020. This reflects an increase of 71 percent on the AUD42-million (US$32.5-million) recorded in the first half of 2020, but a 33-percent reduction.

According to numbers released by the Gaming Inspection & Coordination Bureau, the casino market in the former Portuguese colony won $15.14 million from gamblers during the month. Those figures represent a 135.6% year-over-year increase from February 2020.

It’s not a complete apples-to-apples comparison, however as the pandemic hit China before the rest of the world. For 15 days in February 2020, the government forced casinos to shutter, which crushed earnings for the month since properties were only open for less than half the month.

It’s a slight decline from the $1 billion won by casinos in January, but the three fewer days could account for that difference. Revenue is still down 71%, however from February 2019 before the virus began ravaging gambling markets worldwide.

The increase snaps a 17-month streak of year-over-year declines as the market was experiencing a pullback even before the virus was introduced into the world.

Tourism to Macau generally increases during February, but arrivals to Macau dropped by 65 percent as the government urged citizens to stay home. Despite the warnings, Chinese officials allowed tourists to enter Macau from the mainland, which sent casino stocks soaring, according to a report from Yahoo! Finance.

Wynn Resorts, Las Vegas Sands Corp and MGM Resorts all saw spikes earlier this week. Las Vegas Sands Corp recently sold its Las Vegas properties so that it can focus its efforts on the Asian markets. It also renamed itself Sands Corp.

The government removed restrictions for citizens from the mainland to enter as well, which should further boost the market’s recovery in the coming months.

Gaming brought in $7.30bn of SJM’s revenue, down 78.0%. Gaming revenue in Macau as a whole for 2020 was down 79.3% year-on-year following closures and travel restrictions, though the last restrictions for travellers from mainland China were lifted yesterday.

Macau Gaming Revenue October 2020

Breaking this gaming revenue figure down further, non-VIP table games brought in $5.86bn, a 76.7% decline. VIP gaming revenue dropped 85.1% to $2.04bn and slot revenue declined 68.0% to $379.3m. This resulted in gross revenue of $8.28bn, of which $971.0m was removed through bonuses and commission.

Macau Gaming Revenue Forecast

Hotel, catering and other revenue also declined rapidly, by 71.3% to $202.5m.

SJM’s flagship Casino Grand Lisboa venue brought in $2.07bn in revenue for the year, down 84.0%. Other SJM-promoted casinos brought in $1.35bn, down 78.5% and revenue from satellite casinos – which are operated through service agreements between SJM and third party promoters – dropped 84.5% to $4.85bn.

After paying $3.37bn in gaming taxes and levies, down 78.3%, SJM was left with $3.94bn, down 77.6%.