Macau gaming revenue plunges 97 percent

Wednesday, 06 May, 2020 0

Casino gaming revenue in Macau was all but wiped out in April.

It brought in just $94 million in gross revenues, compared to $3 billion in April 2019.

Down nearly 97%, it is the worst month on record for the world’s top gambling hub.

Casinos in the former Portuguese colony were all closed for two weeks in February but have reopened.

However travel restrictions have stopped the key Mainland China market coming to Macau, leaving casinos virtually empty.

Year to date gross gaming revenue is down 68.7% for the first four months of 2020, according to the Gaming Inspection and Coordination Bureau.

Revenues fell 88% in February.

It is estimated that each casino property is losing about $1 million a day.

April’s plummet is the seventh consecutive month of declining revenue due to last year’s Hong Kong pro-democracy protests as well as the Covid-19 pandemic.

Casino operator Melco Resorts & Entertainment, which has cut salaries of top executives, says guest numbers have been ‘virtually zero’ since reopening in February.

Macau has 45 confirmed Covid-19 cases, with no deaths.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.