Macao gaming revenue hits record low in June
Macao endured its lowest monthly gaming revenue and worst percentage decline from the previous year in its history in June as effects of the coronavirus continue to affect the world’s largest gambling market.
Macao’s Gaming Inspection and Coordination Bureau on Wednesday announced that June’s $89.7 million (U.S.) in casino revenue represented a new low for the market and the variance of 97 percent from June 2019 was the largest ever.
For the first half of 2020, Macao gaming revenue hit $18.726 billion, 77.4 percent less than the first six months of 2019.
Macao has struggled because the Chinese government has ordered borders closed to Macao from nearby Guangdong province and Hong Kong to limit the spread of COVID-19.
The depressed numbers largely affect three Las Vegas companies with casinos in Macao: market leader Las Vegas Sands Corp., Wynn Resorts Ltd., and MGM Resorts International, which holds a majority position in a partnership 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.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.
