Macau Casinos Win $844M in November, as Chinese Gaming Hub Remains in Chaos

Macau casinos combined to win MOP6.75 one thousand million (US$844 million) sour gamblers lowest month, a marginal 0.01 percent growth on Nov 2020, but 55 percent better than October.

Macau’s sextet licensed commercial message gambling casino operators experient their best gaming month since July. However, their Nov 2021 GGR tally remains knock down 70.5 percent from the pre-pandemic Nov 2019. That’s when the gaming venues jointly won more than $2.85 billion.

November 2021 was mostly within psychoanalyst expectations. The step-up inward GGR from October was due to Macau and mainland Red China lifting mandatory 14-day quarantine requirements on travelers moving indorse and forth betwixt the 2 jurisdictions.

Through 11 months, tote up 2021 GGR inwards Macau stands at $9.83 billion. While that’s up 50 percent on 2020, the number is $23.8 one thousand million less than what the casinos had won with a month to turn inwards 2019.

Junking Junket Industry

Macau’s sixer gambling casino giants are slated to consider their operating rights terminate next June. The Chinese enclave is amid a look back of all aspects of its gaming industry — the world’s richest prior to COVID-19 — inward an sweat to better order gaming and the flux of mainland upper-case letter through and through the gaming floors.

After years of staying mum on potency changes, it’s emerged of late that junket groups are beingness hard scrutinized and targeted by local and mainland authorities. Alvin Chau, the face of the VIP junket industry, was arrested finally week on charges of allegedly running illegal gambling enterprises end-to-end China.

Chau’s Suncity isn’t the only junket organizer that has faced a dig into inwards Macau. GGRAsia relays today that several other prominent junket groups have got been the subjects of operational inquiries by mainland prosecutors since lastly year.

Meg Star, Tak Chun, and Kwangtung Club are trey such gaming promoters that make reportedly been scrutinized.

Chau proclaimed his surrender from his Suncity Group yesterday. Macau casinos later confirmed that they were closure their VIP gaming rooms that make long been Suncity designated gaming spaces.

Junkets, which helped impel Macau from a little gaming securities industry controlled by the later(a) “King of Gambling” Sir Henry Morton Stanley Ho to winning a world-record $45 one million million inward 2013, experience get the scorn of PRC President Xi Jinping o'er the past quint or so years. Xi believes the monumental motion of mainland money through casinos poses a subject security department risk of infection for the People’s Republic.

With Chau and several of his closest associates in custody in Macau, casinos will want practically to a greater extent than COVID-19 going away to come up anyplace nigh the gaming numbers they experient simply a few years ago.

Casino Stocks Crash

Since Chau’s detention, shares of Macau’s in public traded cassino stocks have got plummeted in value.

Over the yesteryear week, Las Vegas Sands shares have got dropped niner percent, MGM Resorts trine percent, Wynn Resorts 11 percent, Galaxy Entertainment 8.2 percent, Melco Resorts more than 12 percent, and SJM Resorts V percent.

Paired with on-going COVID-19 concerns and the recent clampdown on Chau and Suncity, the largest junket mathematical group inward Macau, analysts are bearish on the hereafter of the Chinese gaming hub. There’s ripe reason, as junket groups brought around 70 percent of Macau’s VIP loudness to the neighborhood prior to the pandemic.