Pre-pandemic, Macau had established itself as the highest-grossing gambling region in the world.
Now, though, as Nevada continues to post month after month of billion-dollar-plus revenue in the US, Macau is forced to settle for a figure that is 21% down year-on-year.
Indeed, for January 2021, Macau posted just over MOP8bn ($1bn) in revenue; for January 2022, however, the gambling hub has not even reached 10 figures when it comes to US dollars.
A mere MOP6.34bn in revenue was posted by Macau's casinos during the period, which represents a distinct annual fall. "Mere" may seem harsh out of context – but compared to what Macau has generated over the years, this truly is a low number.
This is also a fall month-on-month, and is Macau's lowest gaming revenue figure since October (only October, September and August, in fact, showed lower totals throughout 2021).
Travel restrictions continue to bedevil Macau, while we can assume there has been an inevitable impact on gambling in the region following the slew of recent arrests and legal stories surrounding junkets.
Macau's unemployment rate, too, has risen recently – leaving any analysts who were hoping for recovery early in 2022 in no doubt they will have to wait considerably longer.
Speculation has been rife as to when Macau will return to its former self, so to speak, but the Covid-19 pandemic has so far had an irreversible impact on revenues.
The highest monthly total amassed in 2021 was MOP10.45bn (May), while the last truly positive tally came just before the pandemic: in January 2020, Macau's casinos generated MOP22.13bn in revenue.
To sum up, Macau's start to 2022 was a more-than-bumpy one in January, to say the least. Let's see how February's figures compare.
