Macau casinos won $5.25 billion in 2022, and the area is hoping for a recovery in 2023.

Macau casinos won $5.25 billion in 2022, and the area is hoping for a recovery in 2023.

Home > Macau casinos won $5.25 billion in 2022, and the area is hoping for a recovery in 2023.

Macau casinos won $5.25 billion in 2022, and the area is hoping for a recovery in 2023.

In 2022, Macau casinos made about $5.25 billion, or MOP42,2 billion. In 2021, the casinos won about $10.8 billion, which was about half of what they made the year before. This was a drop of more than half from the year before.

The Gaming Inspection and Coordination Bureau in Macau said that the Chinese enclave’s six gaming companies’ full-year gross gaming revenue (GGR) went down in 2022. That was mostly because China’s President Xi Jinping kept his controversial “zero-COVID” policy in place for most of the year, which stopped normal life from going on.

When COVID-19 broke out again, “Zero-COVID” took drastic steps to stop it. People in China had to deal with lockdowns and travel restrictions all the time in 2022.

Since most visitors to Macau have always come from the mainland, “zero-COVID” will hurt tourism there a lot in 2022. Macau, a part of China that has its own semi-autonomous government under Beijing’s “one country, two systems” policy, worked hard all year to support Xi’s “zero-COVID” mission.

Even though China had “zero-COVID” in 2021, the People’s Republic had a big outbreak in 2022 that started in early March and lasted until June. This past fall, there was another, worse outbreak. This led to “zero-COVID” lockdowns in major cities, which sparked widespread protests and, in the end, Xi’s “zero-COVID” change of heart.

But the damage was already done to the casinos in Macau. In 2019, the same six gaming companies made more than $36.4 billion, but in 2022, they will only make $5.25 billion. This is an 86% drop from 2019.

Mainland Major Market

China is the most important place for Macau’s gambling business. Most of what keeps the high roller rooms in the area busy are the country’s millionaires and billionaires. Most of Macau’s mass market gaming business has always come from China’s large population.

Even though the casinos made 51% less money from gamblers in 2022 than they did in 2021, there are many reasons to be optimistic about the Macau casino business.

Along with Xi’s decision to end “zero-COVID,” casinos in Macau recently got new gaming licenses that will let six companies keep running games of chance in the Chinese SAR until at least December 31, 2033. The companies’ old deals ran out at midnight on January 1.

Nongaming Focus in Macau

In exchange for 10-year licenses, Macau’s six casino owners have been told to put a lot of money into projects other than gambling. Over the life of the permits, the six companies must spend at least $13.5 billion on projects that have nothing to do with gaming.

Xi has told Macau many times that its economy needs to move away from gambling. The local government in Macau is making this wish come true by relicensing gambling.

It won’t be easy to put another $13.5 billion into the land-scarce enclave. But the licensees are coming up with new ways to invest in resort attractions that don’t have to do with gambling.

Melco Resorts, for example, wants to use some of its square footage to build an indoor waterpark that is open all year. Wynn Macau is making plans to make some of its property into a “world-class” place for concerts and theater.

Leave a Reply

Latest Casinos

Zetbet Bonus: 100% match on your first deposit, up to £200 + 100 spins

Voodoo Dreams Bonus: 100% match bonus up to £100 on first deposit

NYSpins Bonus: 100% match bonus up to £100 on first deposit

Duelz Bonus: £100 deposit match bonus and 200 free spins