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Saturday, August 01, 2020, 18:03
Macao's gaming revenues tumble 94.5% in July on virus impact
By Reuters
Saturday, August 01, 2020, 18:03 By Reuters

People wearing protective masks walk in front of the Casino Lisboa, operated by SJM Holdings Ltd., at night in Macao, on March 3, 2020.  (BILLY HC KWOK / BLOOMBERG)

HONG KONG - Gambling revenue in Macao plunged 94.5 percent 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 restrictions which have seen only a modest rise in gamblers.

Even after easing curbs for some travellers, Macao saw only around 2,000 visitors per day in July

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

ALSO READ: Macao casinos likely to post US$1b loss in June quarter

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

Even after easing curbs for some travelers, Macao 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 Chinese mainland gain entry remains suspended.

READ MORE: Macao casino shares surge as mainland border reopened

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