Macau’s gaming revenues tumble 94.5% in July on COVID-19 impact

FILE PHOTO: People wearing masks walk in front of Casino Lisboa before its temporary closing following the coronavirus disease (COVID-19) outbreak in Macau, China, February 4, 2020.

HONG KONG: Gambling revenue in Macau plunged 94.5 per cent in July year-on-year, with casinos reeling from a lack of visitors in the world’s biggest casino hub despite a loosening of quarantine restrictions which have seen only a modest rise in gamblers.

July’s figure of 1.3 billion patacas (US$162.9 million) was in line with analysts’ expectations of a drop of around 95 per cent.

Casinos are staring at heavy losses for the second quarter, with not much hope for a near-term recovery as a resurgence in coronavirus cases muddies the outlook for when China will reinstate travel visas.

Even after easing curbs for some travellers, Macau saw only around 2,000 visitors per day in July, a tiny fraction of the 108,000 daily average in 2019, as the individual travel scheme through which visitors from the mainland gain entry remains suspended.

Z24 News

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