Macau gaming revenue falls to $374 million in November, triple Nevada

The Macau Gaming Inspection and Coordination Bureau (DICJ) reported that the region’s casino industry posted total sales in November, 55.6% lower year-over-year, generating total gaming revenue of 3.0 MOP$ ($374 million). In November, the Macau casino industry also experienced a 23.1% drop in revenue levels compared to October.

In early November, China’s National Immigration Service resumed electronic applications, or eVisas, to travel from the mainland to the Chinese administrative region of Macau under individual visit plans. However, the move did not support games in the region and provided some positive impact on game turnover, which remained modest until the end of the month.

Analysts say the slowdown in Macau visits is due to the current pandemic situation severely restricting travel across mainland China. As a result, Macau casinos have seen lower customer numbers and lower revenue levels than last month. 온라인경마

The Gaming Inspection Coordination Bureau reports Macau’s total gaming revenue for November was down 23.1% from October. The region ended the month with $3.9 billion ($481.6 million) in revenue. Moreover, November 2022 generated revenue of 86.9% lower than November 2019, before the pandemic, when Macau recorded a high level of gross gaming revenue of $22.88 billion ($2.85 billion).

The continued decline in profits in the Macau gaming industry is different from the financial results seen in other popular casino destinations. Nevada, for example, set a record for 20 consecutive months with more than US$1 billion in game wins. Sales from January to October are stable at US$12.3 billion, and if the same trend continues, Nevada’s casinos will achieve an estimated total gaming revenue of US$14.8 billion in 2022.

Nevada’s 2022 revenue is about three times higher compared to Macau’s $4.83 billion revenue achieved in the first 11 months of 2022. At the same time, downtown Las Vegas hit a record of $90.5 million in October, beating the previous record set in March to celebrate the ever-growing industry trend. This growth has also been reflected in community welfare as Nevada has achieved about $400 million in tax revenue.

The current situation shows that Las Vegas has a much better card than before, when Macau posted a revenue level up to seven times higher than Las Vegas. But sometimes because of the limited situation of players, not cards, Macau now have to play a long-shot game to get back to the negotiating table.

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