The Macau casino sector's financial balance sheet in February 2021 looks much better than a year ago but still far from the record highs of 2019. At the same time, Asian Las Vegas reported slow daily spend growth in 2021. The LoginCasino team keeps covering the latest casino news, now describing the situation in one of the world's biggest gambling locations.
Macau's officials reported a quite stable situation in 2021 based on February financial balance. Even though the GGR dropped by almost 9% compared to January 2021, the daily results were 1% better. Overall, casinos brought almost $915M during the shortest month.
Interestingly, February 2021 economic result is almost 136% better than the same month in the previous year. At the same time, the most profitable 2019 brought 71% more in February. Expectedly, all those results are directly related to the splash of coronavirus disease, which caused the negative influence on the Asian Las Vegas at the beginning of 2020.
What relates to more specific results, Macau's visitors allowed to increase the daily GGR from $32.4M in January to $32.6M in February. It is a slightly more than 1% increase in month-on-month comparison and shows a positive dynamic.
How is the situation with visits to Macau?
Officials also presented the numbers of visitors who landed in the city. In 2019, Macau hosted more than 1.2M people during the Chinese New Year (CNY). The COVID-19 outbreak decreased the number to just 261K in the previous year, while the numbers of 2021 are even worse – 90K. However, in terms of revenue, this year is much more positive for the gambling resort.
Macau is also waiting until easing all the restrictions for mainland China citizens, who now have to activate an Individual Visiting Scheme before coming to the Asian Las Vegas.