Macau January gaming revenue released
The Macau Gaming Supervision Bureau announced today (February 1) the gross revenue from lucky gaming in January. Gaming revenue in January was 8.024 billion patacas (the same below), an increase of 2.63% from the previous month. Gaming revenue in January last year was 22.126 billion yuan. Gaming revenue in January this year fell by 63.7% year-on-year
Total gaming revenue in December last year was 7.82 billion patacas (US$977.5 million), the highest level since January 2020, mainly due to the seventh consecutive month of growth in the number of visitors to 659,407.
However, compared with the same period last year, gambling revenue continued to decline, and gambling revenue in January was the 16th consecutive month of annual decline.
Credit Suisse recently discovered that many VIP lounges or high-end midfield customers have cancelled their visits to Macau during the Lunar New Year holiday. Because they were unable to obtain visas or did not want to be isolated after returning to the Mainland from Macau, some intermediaries expect VIP guests during the Spring Festival peak Hall bets will be 20% lower than during the Golden Week last October.
The bank also pointed out that the expected February figures may be disappointing, because the mainland government said it does not support inter-provincial and inter-city travel, and even if the average daily income during the peak of the Spring Festival is 280 million yuan, the other days in February will be 260 million yuan. In dollar terms, gambling revenue in February (average daily expected 265 million yuan) is expected to be only slightly higher than the January level.
The bank reiterated its cautious view on the industry. The current situation (slow capital inflows, weak visa policies, and emotional impact) is causing difficulties for VIP rooms and high-end midfielders. Although it remains optimistic in the long run, the market is still too optimistic about the pace of recovery.
VIP rooms must face reality
According to the Macau Gaming Inspection and Coordination Bureau, as of January 2021, Macau casinos currently have 77 VIP rooms operating a total of 1,566 gaming tables, reflecting the decrease in the number of gaming intermediaries.
YaboHui reported earlier that the number of licensed gaming intermediaries has decreased by 10 compared to 12 months ago, from 95 to 85, and VIP rooms continue to be affected by the new crown epidemic.
The Secretary for Economy and Finance of Macau, Li Weinong, said on Friday that the reduction of VIP rooms is a reality that must be faced under the epidemic, and emphasized that the most important task at present is to stabilize the economy and improve the quality of services.
He also admitted that the upcoming Lunar New Year holiday will inevitably remain tepid-because of the recurrence of the new crown epidemic in the Mainland, he appealed to the public to avoid unnecessary travel.
Li Weinong said: The epidemic is very repeated, and it is commendable to have a certain amount of travellers. At present, the first priority is to prevent and control the epidemic, which is recognized and supported by the state.
Li Weinong also revealed that as of December 2020, there were 9,940 middle and high-level employees in the six major gaming companies, of which local employees accounted for 89%, exceeding the expected 85% of the SAR.
The local employees of the six largest gaming companies in China and Africa decreased by 9,008 to 26,102, accounting for 24% of the industry's total employees.
Entry and Exit of Macau
As the Spring Festival approaches, Macau’s total number of entry and exit in the past week has fallen by 2.58%, and tourists have fallen by 9.4%.
On January 25, the total number of entry and exit of Macao was about 300,600, of which tourists accounted for about 36,700.
On January 26, the total number of inbound and outbound passengers in Macao was approximately 299,100, of which approximately 35,100 were tourists.
On January 27, there were approximately 303,200 inbound and outbound passengers in Macao, of which approximately 35,700 were tourists.
On January 28, there were about 298,700 people entering and leaving Macao, of which about 33,300 were tourists.
On January 29, there were approximately 309,200 inbound and outbound passengers in Macao, of which approximately 35,900 were tourists.
On January 30, the total number of entry and exit of Macao was about 289,000, of which tourists accounted for about 33,600.
On January 31, there were approximately 264,500 inbound and outbound passengers in Macao, of which approximately 32,400 were tourists.
From January 25th to 31st last week and the previous week from January 18th to 24th, the total number of entry and exit dropped by 2.58%, of which the number of passengers dropped by 9.4%.
Tourism is one of the four pillar industries in Macau. The number of tourists affects the livelihoods of many Macau citizens. I hope that the epidemic will end soon and we will see rainbows after the storm.