Jan 03, 2019 07:22 PM. FINANCE. Macau’s Gambling Sector Reports Biggest Revenue in Four Years. By Wei Yiyang and Timmy Shen. The Global Gaming Expo Asia is held in Macau on May 16. Photo: VCG. Macau’s gambling industry reported its best revenue in four years in 2018 after Beijing’s crackdown on corruption and luxury spending saw spending plunge by over a third, government data show. The 2019 will mark an end to Macau’s two-year casino rebound. GGR fell from $45 billion in 2013 to $27.9 billion in 2016 as a result of China cracking down on VIP junkets. Macau gaming operator SJM Holdings said in a statement to the Hong Kong Stock Exchange on Monday that its net profit rose 12.5 per cent year-on-year to HK$3.2 billion (US$411.9 million) in 2019. Gross gaming revenue was 22.84 billion patacas ($2.85 billion) in December, down 13.7% from a year earlier, according to data from the Gaming Inspection & Coordination Bureau. That was lower than... Av. Praia Grande Ed. China Plaza 762-804, 21fl. Tel: (853) 2856 9262 Fax: (853) 2837 0296 Email: [email protected]@service.dicj.gov.mo Gaming Rules. Anti-Money Laund. Responsible Gambling. Information. Services Back: Monthly Gross Revenue from Games of Fortune Back: Av. Praia Grande Ed. China Plaza 762-804, 21fl. Tel: (853) 2856 9262 Fax: (853) 2837 0296 Email: [email protected] For the whole of 2019, Macau’s aggregate real GDP was MOP434.7 billion (US$54.2 billion), and on a per-capita basis was MOP645,438, said the statistics bureau. Factors nonetheless holding back 2019 GDP performance included the fact exports of gaming services fell by 9.8 percent year-on-year, “dragged by a decrease in VIP gaming business,” noted the city’s Statistics and Census Service. Macau, along with Hong Kong, is one of two Special Administrative Regions in China. Gambling in Macau, which was legalized in the 1850s, makes up a large portion of the region’s economy. Revenue... Gross gaming revenue in 2019 fell 3.4 per cent to MOP292.46bn ($52bn), while gross gaming revenue in December declined 13.7 per cent to MOP22.84bn, according to Macau’s Gaming Inspection and Coordination Bureau. Macau gambling revenue has tanked 80% in 2020 due to pandemic The COVID-19 pandemic has hammered gambling revenue in Macau and Las Vegas, while U.S. mobile betting skyrockets. The COVID-19 pandemic...
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