Macao gaming improves in September, but not by much
Macao’s gaming industry improved in September, but still has a long way to go.
Macao’s Gaming Inspection and Coordination Bureau on Thursday reported gross revenue for the region of $276.9 million (U.S.), a 90 percent decline from the previous year.
In July and August, revenue was off 94.5 percent.
Operators are optimistic that October will be strong during the region’s Golden Week celebrations in the first week of the month. Room reservations are up for the seven-day holiday period that runs from Oct. 1-7 this year.
For the first three quarters of 2020, gaming revenue stood at $4.58 billion (U.S.), off 82.5 percent from the first nine months of 2019.
Since February, Macao’s casino market has been staggered by the coronavirus pandemic with resorts closed for 15 days that month.
Since then, border closures and restrictions from nearby Guangdong Province and Hong Kong have prevented any significant visitation numbers to the only place for legalized gambling in China.
Revenue amounts are particularly important to three Las Vegas companies that operate casinos in Macao, market leader Las Vegas Sands Corp., Wynn Resorts Ltd., and MGM Resorts International, which has a partnership operating its two properties there.
The Review-Journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson. Las Vegas Sands operates six properties in Macao and one in Singapore.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.
