Macau casino gaming revenue hits all-time low in July collecting only $49M amid Covid restrictions

August 2, 2022 Macau Earnings & Filings Industry Updates

According to the Gaming Inspection and Coordination Bureau, Macau’s gaming revenue has hit an all-time low; their worst month ever since records began in 2009. Data shows gross gaming revenue fell 95% to 398 million patacas ($49 million) in July, 98% lower than pre-pandemic levels.

Macau’s casinos reopened on July 23, after a nearly two-week shutdown mandated in an effort to stop the spread of Covid-19. However, without tourists, business was slow for the gaming venues.

As per the announcement, authorities will further relax social-distancing rules from Tuesday, allowing venues such as bars and gyms to reopen and dining-in services at restaurants to resume. Still, as previously reported, patrons will need to show a negative nucleic acid test result to enter those venues.

Despite government efforts to reduce covid-related restrictions, China’s extended suspension of quarantine-free travel is expected to keep discouraging visitors. City authorities want infections to hold near zero to bolster the case for reopening the border.

The downturn has already made the city lose its title as the top gambling hub to Las Vegas. And China’s strict adherence to Covid Zero policies like lockdowns and movement curbs, which have become increasingly challenged in the face of highly transmissible variants, portends more pain to come.