Macau Casino Crash Shifts World’s Gambling Crown to Las Vegas

July 21, 2022 Macau Earnings & Filings Industry Updates

With Chinese players stuck at home because of lockdowns, the territory’s gambling revenue has plunged.

In 2019 gambling revenue in Macau was six times that of Las Vegas. This year the Nevada gaming hub has edged ahead of its Asian rival as the Chinese-controlled territory grapples with the effects of Beijing’s “Covid
Zero” policy, which seeks to stamp out infections no matter the cost.

In recent weeks, Macau’s slot machines have fallen silent and its gaming floors have emptied as the enclave endures a lockdown to tame its biggest Covid-19 outbreak. That’s adding to months of virus curbs in China that have helped saddle the city’s six licensed casino operators with an estimated combined loss for the second quarter of $478 million, according to a Bloomberg survey of analysts. In the Nevada desert, by contrast, business is booming as the US tries to live with the virus.