Although there is still a long way to go before it can say it has recovered from the coronavirus debacle, Macau might be on the right path. After watching the numbers reported from casinos remain flatlined for months, there has been a little blip on the screen, with August finally seeing some action. It may not be much, given how robust the gambling market in Macau was a year ago, but every little bit helps at this point. 

According to the Financial Services Bureau in Macau, the city reported $76.8 million in tax revenue last month, 52.4% more than a month earlier. Because of differences in when the casinos took in the revenue and when the government can tally its percentage from that take, there is typically a delay in the representation of the figures. As a result, some of this tax revenue can be attributed to action seen in July, not just August. 

Despite the substantial monthly increase, Macau is still a long way off from its normal levels. The gross gaming revenue (GGR) reported by the casinos remains flat and is down 94.5% year-on-year. The total GGR for the city’s casinos was $166.38 million, an indication that the relaxation of border restrictions has not had a huge impact on visitation to Macau’s casinos.

At the end of August, the cumulative total GGR for casinos in Macau had only reached $4.552 billion – 81.6% lower compared to the same period last year. As a result, Macau was only able to receive about $2.85 billion in tax revenue from its gaming properties. This is only 29.8% of what it had received over the first eight months of last year, and is obviously impacting previous budget forecasts.