Pre-pandemic GGR a pipe dream for 36% of survey respondents

More than 36 percent of respondents to a recent survey by Asia Gaming Brief said they don’t expect Macau to ever return to its 2019 pre-pandemic GGR. 
In 2019, Macau casino gross gaming revenue reached US$36 billion, falling 3.4 percent year-on-year due mainly to a VIP decline in December as a result of a three-day visit by Chinese president Xi Jinping to Macau for the 20th anniversary of its handover to China. 
In 2020, the full-year GGR number fell 76 percent to US$7.6 billion, due to pandemic-related border closures and travel restrictions. 
However, when respondents were asked when they expect Macau to return to its pre-pandemic GGR, at least 36 percent of respondents answered with “Never”.
Though not included within the scope of the survey, the negative sentiment is likely a result of the increased pressure from the Chinese government to reign in VIP and junket play over the past few years. 
In August, Macau lawmakers appeared to have recognized that China’s new policies penalizing gambling and attempting to stop its citizens from gambling abroad will have a direct impact on how Macau runs its gaming/ VIP industry and how much revenue the government receives from its largest tax-contributing industry.
Back then, the committee of the Special Administrative Region’s (SAR) lawmaking body tasked with providing the government advice on the city’s gaming concessions, admitted that recent changes to the Mainland Chinese penal code could make it “difficult for VIP rooms to continue their operations“. 
That would leave only mass gaming and non-gaming revenue to make up for the GGR shortfall. 

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