Recent data about Macau’s local gambling industry has shown that the region’s gaming sector has been steadily developing. Although compared to the pre-pandemic times, the results have notably gone down. The local casinos have gathered a profit of over 990 million USD only in December 2021, according to the recent information.
As for the whole year’s revenue, in 2021 Macau’s gaming establishments have amassed a whopping 10.8 billion USD, Yet, compared to the numbers before the worldwide plight, it is not considered impressive.
General Stats
Overall, the statistics have demonstrated that the general profit for 2021 is nearly 30% of the financial gain of 2019, the last year before the pandemic sent the sector into crisis. Additionally, the data for December is the sixth-best result of the entire year, becoming a significant development from November’s numbers.
October was a difficult month for Macau’s gambling business since the earnings have reportedly decreased by 40%. Largely, the COVID-19 restrictions and lockdowns played a role in it. However, there was one more crucial reason for such a drop, which was the review of gaming laws in the area.
As a consequence, the 2021 stats are considered one of the lowest in the history of Macau’s casino industry. Even in comparison to 2020, the GGR decreased significantly, dropping to 545 million USD. At the lowest point of 2021, the profits were down by 83% compared to two years ago.
Other Reasons for Downfall
Another reason why casinos became a less profitable business in Macau was the rise in unauthorised gambling, due to which eleven people were arrested. They were charged on the count of money laundering and cross-border gaming that went against the law. Some of these people were CEOs of major companies that were eventually supposed to step down from their duties.
After the arrests of their CEOs, a few major groups shut down their private establishments, and some others had their licences expire by the end of 2021. So far, it is unknown what awaits the casino business in the near future. Under the new gambling law revision, most of the current operators are still permitted to function as usual, However, there will probably be certain sanctions for them.
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