Macau’s casino gross gaming revenue in January 2023 amounted to MOP$11.58 billion (US$1.43 billion), which is the highest gaming revenue level achieved in the region since January 2020.
233% above December 2022:
Inside Asian Gaming transfers the information from the Gaming Inspection and Coordination Bureau (DICJ) confirming that in January Macau recorded a gross gaming revenue 82.5% above the January 2021 levels and 233% higher than those seen in December. Propelled by the recent relaxation measures and the festive season, the region’s GGR hit US$1.43 billion last month to stand almost 2.5 times above the December figure and as much as more than 50 times higher than the 2022 low stuck at US$49 million in July.
Highest GGR in three years:
The GGR reached in January is the highest one in the last three years featured by the strong Covid-19 impact and the related closures and travel restrictions. It is also the all-time second-best monthly result following the record US$2.74 billion GGR hit in January 2020 just before the COVID restrictions started to apply to be completely lifted by the government on January 8, 2023. These restrictions caused as low gaming revenues as those experienced in July 2022 with the first hint of recovery felt in Macau in December 2022.
January 8 opening boosted arrivals:
Macau’s casino gross gaming revenue in January of US$1.43 billion represents around 25 percent of the region’s total 2022 revenue to testify about the impact of the measures on the casino operations, as well as the significance of the recent opening of the gaming facilities providing for easier tourist arrivals, particularly from mainland China, Hong Kong, and Taiwan. Since January 8, tourists have been requested upon arrival only to provide a negative COVID test. It resulted in a nearly 300 percent increase in tourist arrivals into the region in comparison to the same period last year.
Earnings exceed expected levels:
These figures have been additionally elevated by the Chinese New Year seven-day holidays which brought almost half a million visitors from mainland China. Also, Hong Kong visitors took advantage of the resumed ferry and bus service, as well as the overnight-stay bonus offered during the festive season to contribute to the number of visitors to Macau’s casinos. Though the number of visitors is still below the pre-pandemic levels, operators boast earnings exceeding the levels expected from the number of arrivals in January.
Las Vegas Sands Chairman and CEO, Rob Goldstein, said: “We’re more than breakeven and into very positive territory,” to show that the full recovery of the Macau gambling industry is on its way to reaching the pre-pandemic figures.