Macau gross gaming revenue fell 55.6% in November to $3.0B patacas ($376M) compared to a year ago, according to data from the Gaming Inspection and Coordination Bureau.
November casino GGR was down 55.6% on a month-on-month comparison with COVID restrictions impacting travel around China including to Macau. The GGR tally was worse than the -47% consensus mark anticipated by analysts and about 99% below the gaming revenue generated in November of 2019 just before the pandemic started and when high rollers and tourists were still rolling into the gambling mecca.
Macau year-to-date gross gaming revenue is down 50.9% to 38.7B patacas through November 30.
Looking ahead, the outlook for the Macau casino sector has improved with some relaxing of COVID restrictions taking place in China and the six major casino operators getting new licenses to continue operating for another…