Macau gaming revenues continuing slow recovery

The 39 casinos in Macau reportedly saw their aggregated gross gaming revenues for November fall by 70.5% year-on-year to slightly over $845.15 million due in large part to the continuing impact of the coronavirus pandemic.

According to a report from Inside Asian Gaming citing official information from the enclave’s Gaming Inspection and Coordination Bureau regulator, the result represented the 14th consecutive month of year-on-year declines and followed an October in which the finishing figure was some 72.5% lower at approximately $910.53 million. But the source detailed that the November tally still represented the city’s second highest total since January when combined receipts reached about $2.77 billion and is far better than the six straight months of over 90% comparative drops seen from April.

Longer lag:

The November outcome reportedly also means that Macau has now recorded eleven-month aggregated gross gaming revenues of roughly $6.54 billion, which represents a wane of 80.5% when compared with last year’s tally of around $33.76 billion while being some 81.1% lower than the $34.61 billion recorded at this same stage in 2018.

Official action:

Casinos in Macau reportedly began to see some light at the end of their coronavirus-obstructed tunnels in October after the local government began re-issuing group travel and Individual Visit Scheme (IVS) visas for residents of mainland China. This latter program purportedly accounted for 46.8% of the 27.9 million mainland Chinese visitors that entered the former Portuguese enclave last year with the reintroduction leading to a month in which aggregated gross gaming revenues sequentially improved by some 229%.

Epic ebb:

Although Macau casinos are still facing a long road to complete recovery, they are reportedly no doubt pleased to be away from this summer’s dark days and a June in which aggregated gross gaming revenues declined by an unprecedented 97% year-on-year to a mere $89.67 million.

Source: Worldcasinodirectory, Worldcasinonews

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