With the month of June behind us, casinos from all over the world have announced their revenue for the past thirty days. When it comes to Macau casinos, they grossed a little less than $90 million over the past month. And, while this may sound like a substantial profit for the casinos based in the Macau gambling district, this number is 97 percent lower than the one Macau casinos experienced over the same period last year. Continue reading to learn more about the current situation with gambling in Macau casinos.
By The Numbers
From January through June, Macau casinos experienced gross gaming revenue (GGR) of just $4.2 in total. Over the same period in 2019, Macau casinos grossed close to $19 billion. This means that the Coronavirus pandemic has caused close to $15 billion in lost revenue.
What’s even more concerning, June marked the ninth consecutive month in which Macau casinos saw a decline in their gross gaming revenue. Although Macau casinos are still operating, with specific safety measures in place, only casino players from mainland China, Taiwan, and Hong Kong are allowed to enter Macau at the time being.
What to Expect in the Near Future
The numbers don’t look any better when we take a look at the broader picture. Macau’s entire economy dropped nearly 49% in the first quarter of this year. This is understandable, as casinos account for the vast majority of the enclave’s tax revenue.
While the global-wide lockdown most likely won’t be lifted soon, Macau could open its borders in the near future and get back to business as usual. And, as one of the most popular gambling regions in the whole world, and a popular tourist destination, Macau stands a chance of recovering from the financial damage caused by the Covid-19 pandemic. If the government loosens or lifts the restrictions, Macau casinos can still rebound from the record-breaking losses of the first half of 2020. However, many people in Macau are already mitigating for change and are wary of the possible collapse of Macau’s economy if this continues for much longer.
As of the beginning of July, there’s still a mandatory two-week quarantine for anyone traveling to Macau from Hong Kong and vice versa. Over the past few weeks, Macau officials have been contemplating the idea of implementing quarantine-free travel from neighboring Hong Kong and Guangdong, although this is yet to happen.