Macau gaming revenue improves in September but still down 87% from pre-pandemic level

Macau, China city skyline at dusk.

Nikada

Macau gross gaming revenue fell 49.6% to $2.96B patacas ($370M) compared to a year ago, according to data from the Gaming Inspection and Coordination Bureau.

The September tally was up 35% from the prior month with some COVID restrictions loosened slightly. However, GGR was still down 87% compared to the pre-pandemic level in 2019.

For the year, gross gambling revenue was down 53.1% to $31.9B patacas ($3.99M).

Looking ahead, analysts expect the incremental improvement in Macau traffic to continue, although it is unclear when the zero-tolerance COVID policy will be pulled back enough for Mainland and international visitations to recover.

Macau casino stocks: Wynn Macau (OTCPK:WYNMF) (OTCPK:WYNMY), Wynn Resorts (WYNN), Sands China (OTCPK:SCHYY) (OTCPK:SCHYF), Las Vegas Sands (NYSE:LVS), MGM China (OTCPK:MCHVF) (OTCPK:MCHVY). MGM Resorts (MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF) (OTCPK:SJMHY), Melco Resorts & Entertainment (MLCO), Studio City International (MSC).

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