Macau Casinos Win Just $376M in November, as Gaming Revenue Remains Stifled

Macau casinos won a measly MOP3.0 1000000000000 (US$375.9 million) finally month.

A nearly 56% year-over-year decline, November’s 144 gaming revenue (GGR) is further proof that China’s committal to “zero-COVID” will keep to suppress any meaningful gaming business recovery inwards what was the world’s richest gaming market until such restrictive conditions are eased.

Macau’s Gaming Inspection and Coordination Bureau disclosed that the region’s six commercial-grade cassino operators persist in to struggle amid draconian COVID-19 measures. Though only if a little per centum of infected persons during the modish outbreak across PRC are presenting complications from the coronavirus, the Communist Party is ordination lockdowns on major cities inwards an sweat to curbing the skyrocketing instance counts.

Macau has ordered all residents to undergo day-after-day COVID-19 testing through at least tomorrow, Dec. 2. Macau is adhering to Beijing’s “zero-COVID” insurance despite the wellness emergency value battering the region’s economy.

Billions Lost inward November Alone

Macau’s Nov cassino revenue of only if $375.9 jillion was a 23% drop from Oct 2022 and is 87% infra — or nearly $2.47 1000000000 unforesightful — of the $2.85 1000000000 that the same 6 cassino firms won inwards pre-pandemic November 2019.

The nearly $2.5 one thousand million in rock-bottom gaming is only when what the multibillion-dollar resorts missed out on from their gaming floors. The casinos missed many to a greater extent millions of dollars from their hotel rooms, restaurants, spas, and amusement facilities existence predominantly vacant last month.

Inside Asian Gaming founder St. Andrew Dred Scott wrote this morning that 2022 Macau cassino GGR through 11 months is to a lesser extent than a tertiary of what the local governance forecasted before the campaign. While other major gaming markets rapidly rebounded from the pandemic, most notably Silver State where the state’s casinos make won at least $1 one million million inward from each one of the previous 20 months, an unmatched streak for the tell home to Las Vegas, “zero-COVID” has continued to donjon Macau restrained nearly threesome years after the coronavirus go a global worry.

Year-to-date, 2022 Macau casino revenue totals or so $4.8 billion. That’s 51% let down than at this clip last-place yr and 86% less compared with January through and through November 2019. The latter represents a GGR difference of nearly $28.8 billion.

Zero Evidence ‘Zero-COVID’ Ending

A “zero-COVID” scenario where a land as large as Communist China is loose of any combat-ready infections of the virus is considered an unrealistic goal past most health officials outside of China President Xi Jinping’s intimate circle. Protests hold sprung upward in several major mainland cities, which prompted a exacting important response from Beijing.

For now, there appears to be no destruction in visual modality for “zero-COVID.” About 50 cities inward China are currently amid a lockdown of some sort, poignant approximately 410 one thousand thousand people.

Xi’s company has said inward recent days that the country’s COVID strategy remains intact despite widespread protests. And inward recent days, the Community Party’s newspaper, the People’s Daily, has published a serial of commentaries highlighting the importance of continuing to adhere to strict prevention controls.