Macau’s Gross Gaming Revenue Rises 58% YOY in March

Gaming Inspection and Coordination Bureau of Macau has released figures that show how gross gaming revenue of this world’s major gaming hub has risen 58% from March 2020.

The total GGR was MOP8.31 billion ($1.04 billion). March is also the highest month of 2021 in of revenue so far.

The Numbers

Macau made 13.6% more in March than in February and 3.5% more than in January.

Since the beginning of 2021, Macau has made MOP23.64 billion in revenue. Good result as it is, it is still down on the same period last year when it made MOP30.49 billion (22.4% less).

Between January and March 2020, the majority of revenue was made in January, before the closure of gaming venues in February due to pandemic outbreak restrictions which saw the gambling industry of Macau hit by a standstill.

Last year, all the major operators saw their revenue plummet. Sands China revealed a $1.52 billion loss during the year after their revenue dropped 80.8%.

Melco Resorts and Entertainment made a $1.26 billion loss, as their yearly revenue declined by 69.9%.

The entire region’s GGR declined by 79.3% in 2020. This amounted to MOP60.44 billion compared to MOP292.46 billion in 2019.

Online Gambling Incoming?

In September last year, propelled by the ongoing closures due to the pandemic, Macau legislators have proposed that the city makes online gambling legal in order to weather the storm caused by the crisis more successfully.

Jose Maria Pereira Coutinho, one of the legislators, said that Macau SAR government should establish official standards and regulations on interactive gaming, and develop interactive gaming software together, in order to increase revenue from gaming tax.

Source:

“Macau GGR up 58% in March to MOP8.31bn”, igamingbusiness.com, April 1, 2021.