Macau GGR falls to 18-month low amid China Covid outbreaks; report finds concessions likely to be renewed

Gaming revenue in Macau fell to its lowest level in 18 months after plunging 56% in March, according to data shared by the Gaming Inspection and Coordination Bureau. Income from gaming in the world's largest gambling hub suffered from a Covid-19 outbreak in mainland China, which heavily reduced tourist arrivals to the city. Gross gaming revenue (GGR) for the month was 4.67 billion patacas ($455 million), the lowest it's been since September 2020. Revenue dropped 53% from the previous month, and was down 86% when compared to pre-pandemic 2019. For the first three months of the current year, combined GGR…