According to the latest figures released by Macau’s Gaming Inspection and Coordination Bureau (DICJ), gross gaming revenue (GGR) grew by 6% year-on-year during the month of February.
GGR for the month amounted to MOP$7.76 billion ($946/€845.9 million) largely in-line with analysts’ expectations of 7% growth for the period. This was due to a strong Lunar New Year period that saw a spike in tourism to the island territory.
February’s GGR marked the biggest month since the May Golden Week holiday in 2021 which was the strongest single month in the Macau gambling industry since the global pandemic forced casinos to work at limited capacity.
However, despite the positive numbers showing a 35% month-on-month increase, GGR for the month was down by 69% when compared to February 2019 prior to the pandemic.
The Lunar New Year saw Macau’s gambling operators post significant gains even though tourism figures were slightly under the government’s predictions for the period. This was due to tighter restrictions for visitors from China to Macau that required all tourists to have a negative test in the 48 hours following arrival in Macau.
Wynn Resorts reported an increase in both VIP and premium mass players during the holiday. The company reported that direct VIP and mass drop rolling stood at 60% and 88% of 2019’s Lunar New Year levels. Meanwhile MGM China reported that its mass market gaming had returned to 85% of its pre-pandemic levels.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.