Macau decline reaches one year mark
Gross gaming revenue (GGR) in Macau has now declined year-on-year for 12 consecutive months, following May’s 37% drop to 20.35bn patacas.
The monthly total is an increase from April’s 19.17bn patacas, which was the lowest monthly figure posted since January 2011.
May’s year-on-year decrease is up from April’s 39% downswing, while the year-to-date GGR figure of 104.29bn patacas is down 37%, and a decrease of over 30% has now been recorded in each of the past four months.
The record for the highest ever year-on-year monthly downturn in the region was broken three times in the space of five months within the 12 consecutive months of decline, as February’s 49% fall to 19.54bn patacas broke December’s record 30% decrease to 23.29bn patacas.
Annual GGR in the former Portuguese colony declined 3% to 351.52bn patacas last year, which was the first annual fall since records began in 2002.
Galaxy Entertainment became the first casino operator to open a new casino in Macau since 2012 by opening two new resort projects last week, worth $3.2bn.
The Macau casino market was opened up to foreign operators in 2001, when a law change brought an end to Stanley Ho’s government-sanctioned monopoly, and Sands Macao was the first foreign-owned casino to open in Macau in 2004.
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