Macau back at the forefront of the global gaming industry!
Macau, an iconic gambling destination, is making a comeback as the casino capital of the world following the lifting of restrictions linked to the Covid-19 pandemic, attracting massive crowds of Chinese gamblers. In fact, during “Golden Week”, which began last Sunday, many Chinese gamblers took advantage of public holidays to visit the former Portuguese enclave. Although official figures are not yet available, the baccarat and poker tables are full again, as are most of the hotels on the peninsula!
Golden Week: hundreds of thousands of visitors expected in Macau
Hundreds of thousands of visitors are expected throughout the ” Golden Week “This was in stark contrast to the previous year, when only 25,000 visitors per day were recorded.
Li Junkai, a 24-year-old recent graduate from Hebei province, went to Macau to have a good time: ” I was curious to discover the world of gaming. Since it’s legal in Macau, I came here to try it out. For accommodation, I chose The Londoner “explains the young tourist from his resort on the artificial island of Cotai.
Macau, a former Portuguese colony that became a Special Administrative Region of China in 1999, retains its unique status as a legal casino territory, making it the only place in the country where gambling is permitted.
In 2019, Macau was the gaming capital of the world with sales almost six times those of Las Vegas, reaching $36.5 billion in Gross Gaming Revenue (GGR). However, the Covid-19 pandemic put an end to this period of prosperity for almost three years.
In 2023, however, Macau quickly regained its position as leader in the casino gaming sector. ” I never doubted for a second that Macau would regain its crown. What surprised me was the speed with which it happened. “confides DS Kim, analyst at J.P. Morgan.
” Macau is back, not at the top, but in better shape than before “
Aubrhey, a bartender at one of Macau’s many five-star hotels, agrees with the financial analyst: ” Macau is back. Not at the top, but in business terms it’s doing much better than it was at the height of the pandemic. “.
And as proof, in the second quarter of 2023, Macau’s six casino operators – whose licenses were renewed for ten years in 2022 – returned to 70% of their pre-pandemic profits. During “Golden Week”, visitor numbers are expected to reach around 84% of pre-pandemic levels, which is more encouraging than initially hoped.
Despite this recovery, however, the VIP sector is still in a state of flux, which targeted very big playershas shrunk considerably due to restrictions imposed by Beijing. The authorities sentenced a gambling tycoon to eighteen years’ imprisonment last January, deterring many wealthy gamblers from trying their luck in Macau.
