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

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.

READ: ‘Not much hope’: Macau casinos see deepening losses as coronavirus slams China travel

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.

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