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

FILE PHOTO: A man wears a mask as he walks in front of the closed Grand Lisboa Casino after the outbreak of coronavirus disease (COVID-19) in Macau, China, on February 5, 2020. REUTERS / Tyrone Siu / File Photo

HONGKONG (Reuters) – Macau gambling revenues declined 94.5% yoy in July, with casinos declining from a lack of visitors to the casino despite the relaxation of quarantine restrictions, where the number of players increased only marginally largest casino hub in the world.

The number of 1.3 billion patacas ($ 162.89 million) in July met analysts expectations of a decline of around 95 percent.

The casinos are facing major losses for the second quarter, with little hope of a recovery soon, as a resurgence of the coronavirus cases is clouding the prospect of reintroducing travel visas in China.

Even after loosening the curbs for some travelers, Macau only saw around 2,000 visitors a day in July, a tiny fraction of the daily average of 108,000 in 2019, as the individual travel system that allows mainland visitors to visit remains suspended.

($ 1 = 7.9810 Patacas)

Reporting by Clare Jim; Writing Farah Master; Edited by Kim Coghill

(tagsToTranslate) US (t) MACAU (t) INCOME (t) Leisure Products (TRBC) (t) Performance / Results / Revenue (t) Macau (t) Hong Kong (t) Health / Medicine (t) Life / Lifestyle (t) China (PR China) (t) Asia Pacific (t) Leisure and Recreation (TRBC) (t) Respiratory Diseases (t) Emerging Markets (t) Epidemics

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