Macau Eases Covid Rules, Casinos Seek Brighter Outlook After Worst Year Since 2004
- Dec. revenue falls 56% year-on-year vs estimate of 57% drop
- Strict Covid Zero rules kept gamblers away for most of 2022
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Macau’s casinos posted their worst year since 2004 as China’s strict Covid Zero policies wrought havoc on the gambling hub, though a recent loosening of pandemic curbs is fueling optimism about a long-awaited revival in the year ahead.
The Gaming Inspection and Coordination Bureau said Sunday that gross gaming revenue in December fell 56% from a year earlier to 3.48 billion patacas ($433 million), slightly below the median estimate of a 57% decline, according to analysts surveyed by Bloomberg.