Macau's Gross Gaming Revenue Down More Than 90% For Fourth Straight MonthCasinos Won $168 Million From Gamblers In July |
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Even five months after casinos reopened, the world’s largest gambling market is still reeling from the COVID-19 pandemic.
Macau casinos won $168 million from gamblers in July, according to data released by the Gaming Inspection & Coordination Bureau. The figures represented a 94.5 percent drop year-over-year. It’s the fourth straight month that Macau’s gross gaming revenue fell by more than 90 percent.
It is also the 10th consecutive month that Macau gaming revenue has declined. In June, gamblers lost $89.7 million to gambling operators.
According to a report from the South China Morning Post, measures taken by the Chinese government have stunted the gaming market’s recovery.
Since the outbreak closed Macau casinos for two weeks in February, the government banned tourist visas and officials from the neighboring Guangdong province was forcing residents to undergo a 14-day quarantine when returning from the former Portuguese colony.
It looks as if the governmental factors are easing and the market could start to experience a turnaround in the coming weeks and months. The Guangdong province lifted the mandatory quarantine in mid-July and analysts are expecting tourism visas to resume later in August or possibly September.
With fewer travel restrictions from the state and federal government, American gambling markets have not experienced revenue decreases to the same extent. In its first month open for business since a nearly three-month shutdown, Nevada casinos experienced a 45.5 percent year-over-year decline.
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