Las Vegas Sands Corp, which owns four Macau casinos – Reports nearly $1 billion loss in second quarter Macau casinos survive five straight months with more than 90 percent revenue drop The world’s largest gaming market is in the midst of the most extreme revenue decline ever conceivable as Macau’s gross gambling revenue fell by more than 90 percent for five consecutive months.
According to data released by the Gaming Inspection & Coordination Bureau, casinos in the former Portuguese colony won just $166.6 million in August, The figures represent a 94.5 percent year-over-year decline compared to the more than $3 billion won. the region from gamblers in August 2019. This is also the 11th consecutive month of decline in gross gambling gross revenue in the region.
The market could find a bottom as August revenue equals July receipts of $168 million. In June, the casino won $89.7 million.
The COVID -19 pandemic and strict travel restrictions placed on the territory by the Chinese government have plagued the industry since casinos were forced to close for two weeks in February. As the country continues to slowly control the virus, some travel restrictions have been lifted, but casinos still have a bleak outlook on the future to come bonus138.
Last month, the government lifted a mandatory 14-day quarantine for travelers from the neighboring province of Guangdong, but according to a report from GGRAsia, the province is home to the highest percentage of non-gamblers across the country. Other strict travel restrictions are still in place as the government still imposes quarantines on travelers. Hong Kong and other regions of the world that have a higher concentration of gamblers in their population visit Mpo slots online gambling agency.
This year, the Macau market is down more than 80 percent compared to 2019 with at least a few operators in the region posting losses.