Eighth consecutive month of declining revenues for the region – The only data available from the Chinese government will show that the spread of the coronavirus has been under control for some time, but that there have been tight restrictions and visa restrictions in place for travel in and out of Macau. These restrictions are the main cause of the slowdown in business but are expected to ease in the coming weeks.
Both Hong Kong and Guangdong province forced residents to undergo a 14-day quarantine period when they returned from Macau. Most of Macau’s tourism comes from these two areas.
Las Vegas casinos are scheduled to begin the reopening process in just two days after nearly three months of closure. Unlike Macau, Las Vegas has no border restrictions that will stifle its revenue, but the growing nationwide protests surrounding George Floyd’s death at the hands of police officers could dampen business.
Beyond the protests, the US gambling market appears poised for a rebound based on early returns from reopening casinos in other areas of the country visit kingdomtoto. The Macau gaming market had a tough month as revenues fell 93 percent year-on-year in May.
Gross gaming revenue for the former Portuguese colony and the world’s largest gambling hub was $ 221 million in May, according to figures released by the Gaming Inspection & Coordination Bureau.
According to Bloomberg, the drop was actually better than analysts anticipated as the market was expected to fall 95 percent just a month after a record 97 percent fall.
May marks the eighth consecutive month that gambling revenue has seen a decline from year to year. The first half of that streak came from a combination of rising Hong Kong protests, China’s economic slowdown and fears looming over the trade war with the US.
The second half of this slump saw a steeper decline and was almost exclusively due to the COVID -19 pandemic which forced casinos to close for 15 days in February.
When Florida began reopening its casinos and poker rooms, there were more than 100 people on the waiting list for poker games at the Seminole Hard Rock Tampa location. There was a similar turnout just days ago in a poker room in Arizona when the Talking Stick Resort opened its doors.