Macau’s Casino Revenue up 6% In February
Macau’s gross gaming revenue grew by 6% in February 2022 compared to the same period in 2021. Total revenue was HK$7.76 billion (US$992 million), up 22% from January. In the first month of 2022, gambling establishments were able to earn only 6.34 billion Hong Kong dollars.
However, total revenue is still down 8% compared to the same period in 2021. But the income situation is leveling off. The January failure, according to experts, did not repeat itself in February and is unlikely to be recorded in March.
The success of the industry encourages its representatives. However, the income of Macau’s casinos still can not be compared to the level shown before the coronavirus pandemic. Now the city faces a new fight for leadership with a renascent Las Vegas.
Experts say that February’s results do offer hope for Macau’s full recovery, especially as the region remains on lockdown under strict COVID-19 countermeasures. Yesterday, the city government countered calls to end social distancing measures under the current conditions. This could slow down economic growth in the coming months.
The current junket-related uncertainty could also play a detrimental role in Macau’s business recovery. Experts expect the city to maintain slow revenue growth unless more action is taken. International trips remain mostly prohibited, even though travel to and from Hong Kong has been allowed since February 21. The Macau government hopes that the influx of tourists from this region will help the gaming center recover from economic hardships.
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