Macau has been knocked by the Coronavirus. Recently, the region reported losses of nearly 80% for the month of March.
A report released by the Gaming Inspection and Coordination Bureau shows a revenue of 5.257 billion patacas for the casino industry of Macau in March. This equates to US$657.5 million, some 79.7% less than March 2019 when revenues topped 25.840 billion patacas, or US$3.23 billion.
And while devastating for the casino industry, on which this region largely depends, the casino revenue was down 50% for the first two months of 2020, when compared to 2019. March’s large turndown in revenue actually comes as an increase to February when loses of 88% were reported with a gross gaming revenue of just 3.104 billion patacas, or US$387 million.
This has been the largest year-on-year drop observed by the Chinese region. This sharp decrease in revenue can largely be attributed to the shutdown period when Macau casinos were forced to close for a 15-day period from the 5th to the 20th of February due to the Coronavirus.
The area, which normally sees more revenue per week than Las Vegas does in a month, has been adversely affected by the global pandemic. High rollers have avoided traveling to the region as to avoid forced quarantines upon returning home, be that abroad or to other regions in mainland China.
Following the lockdown, and with no new COVID-19 cases reported in Macau, most of the region’s 41 casinos resumed full operations, with strict hygiene and social distancing protocols in place, however gamblers still rather opt to stay at home.
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