Macau ends 2020 with 66% drop in GGR

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Updated September 21, 2022 | Published January 4, 2021

2 mins read

Macau has reported a 66% drop in gross gaming revenue (GGR) in December, falling to an estimated $979 million in December year-on-year.

The gambling hotspot recorded a 79% drop in all-year revenue. Analysts predict 2021 results will be 80% of 2019's gaming revenue.

The results come straight from the Gaming Inspection and Coordination Bureau, which regulates the casino industry in the special administrative region.

Meanwhile, full-year revenue has declined by another 79%, ending a moribund year for one of Asia's biggest gambling hubs.

As Macau struggles to lure back high rollers and recreational casino players, the city is planning to diversify its revenue streams in 2021.

A rumor that China would seek to introduce its digital yuan in Macau's casinos was quickly dismissed, but the city will still seek to host sporting events and other forms of tourism to boost net receipts.

In the meantime, Macau has done well in reining in the spread of covid-19, with the city not reporting a single case in six months.

This has marked a tremendous success for the enclave, while the rest of the world continues to struggle.

However, this year should bring Macau some much-coveted relief. Analysts from Sanford C. Bernstein predict that Macau will reach 80% of 2019's GGR in 2021, making for a good recovery overall.

In the meantime, alternatives exist. There are plenty of crypto betting opportunities, including a fair bit of Bitcoin casinos, such as FortuneJack, Bitcasino.io, and BitStarz.

Want the chance to win an iPhone 11 Pro? Then take a couple of minutes to complete our CGN survey.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.
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