Macau’s gaming revenues tumble 94.5% in July on coronavirus impact

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© Reuters. FILE PHOTO: A man wears a mask as he walks in front of the closed Grand Lisboa casino in Macau

(Reuters) – Gambling revenue in Macau plunged 94.5% 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 which have seen only a modest rise in gamblers.

July’s figure of 1.3 billion patacas ($162.89 million) was in line with of a drop of around 95 percent.

Casinos are staring at heavy for the second quarter, with not much hope for a near-term recovery as a resurgence in cases muddies the for when will reinstate travel visas.

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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.

($1 = 7.9810 patacas)

Source: Investing.com

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