Macau Casinos: Unprecedented Revenue Drop
Unfortunately, today any news is somehow connected with the COVID-19 pandemic, which has caused unprecedented changes in our lives. The gambling industry has not remained on the sidelines. While virtual operators and online casino owners note a significant increase in income, land-based establishments are in a real despondency. At the same time, many clubs are generally closed to visitors and are incurring huge losses, since rent and other payments have not been cancelled or significantly reduced everywhere.
Macau is one of the few places on Earth where casinos are still operating. Let us recall that in February, all gambling establishments in the region were closed for quarantine for two weeks. However, the Chinese authorities managed to cope with the epidemic, so they are trying to return to normal life. Despite the fact that Macau casinos are accepting visitors, the industry's total revenue for April was the lowest in the entire history of the gambling zone in this province.
According to the report released by the Macao Gaming Inspection and Coordination Bureau on May 1, gross revenue for April was $94.4 million (MOP754 million). Compared to the same period last year, it was down a record $96.7%! Surprisingly, even in March, Macau casinos earned more than in April.
Experts are not optimistic about the current situation, as they are sure that the gambling market will not recover this year. Even if all countries lift travel bans overnight (which is impossible in principle), gamblers are unlikely to rush in droves to have fun in their favorite land-based establishments in Macau. Firstly, restrictive measures in public places will be maintained for quite a long time. For example, in the same operating casinos in the Chinese province, half of the tables and machines are not working, which is necessary to maintain distance between visitors. Secondly, some people will find it psychologically difficult to be near each other after a strict quarantine, as they will think that they can get infected.
