Macau casino revenue falls 70.5% in November
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November’s revenue does, however, represent the second highest total for the Chinese Special Administrative Region since it took in MOP22.13bn in January. That month was the last before the imposition of travel restrictions, resulting from novel coronavirus (Covid-19), which revenue for Macau’s casinos.
The month’s GGR was down 7.2% compared to the MOP7.27bn taken in October, though this was a smaller decline than seen in the same month last year, when revenue was 13.5% behind October.
For the year to date, Macau has generated revenue of MOP52.62bn, down 80.5% on the MOP269.62bn brought in by the end of November last year.
Current year-to-date revenue is just over the MOP50.31bn brought in between January and February 2019 alone.
Macau’s travel restrictions have had a major financial impact on many casino operators. MGM Resorts International published results in October, showing that revenue from the operator’s properties in Macau was down 93.6% at $46.9m.
Asian casino operator Galaxy Entertainment saw its GGR decline 93.9% in Q3, to HKD$867m (£84.4m/€94.6m/USD$111.8m). Q3 earnings for Melco showed a decline in revenue of 85.2%, as the operator reported a $386.9m loss.
Macau’s Wynn Palace saw its revenue decline 97.4% year-on-year, bringing in just $15.7m in the third quarter, as the Wynn Macau property also saw revenue decline 89.2%, bringing in $51.4m. Travel restrictions in Macau contributed significantly to the operator posting a $831.5m net loss.
