According to data compiled by GGRAsia, Macau dropped to third place regionally in terms of gross gaming revenue (GGR) in the three months leading up to September 30 behind Singapore and the Philippines.
The Philippine Amusement and Gaming Corp., the nation’s gaming regulator, released data on Monday showing that the country’s casino industry generated GGR of just over PHP49.36 billion (US$860.7 million) in the third quarter of 2022, a 7.6% increase from the second quarter.
In this regional comparison, Singapore’s market-wide GGR placed second. According to the respective operators’ quarterly reports, the combined gaming revenue from Singapore’s two casino resorts rose to just over US$788 million in the three-month period ending in September. The Marina Bay Sands gaming complex, run by a division of Las Vegas Sands Corp., and the Resorts World Sentosa casino complex, run by Genting Singapore Ltd., are both located in the city-state.
According to data from Las Vegas Sands, the third quarter casino revenue at Marina Bay Sands was $510.0 million, an increase of 2.0% from the first three months. In the three months leading up to September 30, Genting Singapore reported gaming revenue of approximately SGD382.0 million (US$278.1 million), an increase of 58.7 percent sequentially. According to data released in October by the local regulator, the Gaming Inspection and Coordination Bureau, Macau’s casino gross gaming revenue (GGR) decreased by 34.7% quarter over quarter to MOP5.55 billion (US$688.4 million) in the three months to September 30. The 12-day closure of Macau’s casinos during the worst local Covid-19 outbreak since the pandemic’s start in early 2020 had a negative impact on the city’s third-quarter GGR results.
While most Asian countries have adopted a “living with Covid-19” strategy and benefited from a concomitant increase in tourism, Macau continues to adhere to mainland China’s “dynamic zero” policy in dealing with Covid-19. Macau’s market-wide quarterly GGR has fallen for several quarters in a row. The first quarter of 2022 saw Macau produce GGR of almost US$2.21 billion, but the second quarter saw a 52.2 percent decline to US$1.05 billion, according to official data. The latter figure was still sufficient for Macau to surpass the Philippines and Singapore for the top spot in reported GGR.
According to their respective corporate data, Singapore’s two casino resorts generated total gross revenue (GGR) of around US$741 million in the second quarter. According to data released by Pagcor, the Philippines casino industry generated GGR of just over US$824 million during the same period.