Macau's Office for the Coordination of Game Inspection (DICJ) reported that the casino industry in the region generated 3.0 MOP$ ($374 million) in total gaming revenue in November, down 55.6 percent year-on-year. Macau's casino industry also saw its revenue levels drop 23.1 percent in November compared to October.

Travel Measures and Restrictions:

In early November, China's National Immigration Service resumed e-visa applications for travel from the mainland to the Chinese administrative district of Macau under a personal visit plan. However, the move did not support gaming in the region and provided some positive impact on gaming sales, which remained modest through the end of the month.

The slowdown in Macau visits is attributed to the current pandemic situation severely restricting travel across mainland China, according to analysts. As a result, the number of guests at Macau casinos has declined and revenue levels are lower than the previous month.

Lower revenue levels:

The Game Inspection Coordination Bureau reported that Macau's total gaming revenue fell 23.1% in November from October. The region closed that month with $3.9 billion ($481.6 million) in revenue. Also, November 2022 generated 86.9% lower revenue than November 2019, before the pandemic, when Macau recorded as much gaming gross revenue as MOP22.88 billion ($2.85 billion).

From January to November 2022, Macau's GGR was MOP 38.7 billion ($4.83 billion), a decrease of 50.9% compared to the same period in 2021.

Comparison to Nevada:

The continued decline in revenue from Macau's gaming industry is unlike the financial results seen at other popular casino destinations. For example, Nevada recorded its 20th consecutive month with more than $1 billion in gaming wins. Revenue from January to October is stable at $12.3 billion, and if the trend continues, Nevada casinos are expected to achieve $14.8 billion in total gaming revenue in 2022.

Compared to Macau's $4.83 billion revenue achieved in the first 11 months of 2022, Nevada's 2022 revenue is about three times higher. At the same time, downtown Las Vegas set a record of $90.5 million in October, marking the industry's continued growth trend. This growth has also been reflected in community benefits, with Nevada achieving about $400 million in tax revenue.

The current situation shows that Las Vegas has a much better card than it had before, when Macau recorded revenue levels up to seven times higher than Las Vegas. But sometimes it's not the card, it's the player's limited situation. Macau now has to play against the possibility of returning to the table.