Macau's casino industry signed up for another month in December to forget to finish worst year ever, report revealed Gross monthly income with Games of Fortune published by Gaming Inspection & Coordination Bureau.
December y / y Decrease less than in November
Casinos in Special Administrative Region (SAR) China has shown slight signs of generating recovery MOP 7.82 billion (US $ 938 million) in December, which accounts for 65,8% decline in relation to MOP 22.84 billion (US $ 2.74 billion) industry revenues in December 2019
The monthly number of the report was in line with the median of forecasts from analysts, which came in 68% decline after decline 70,5% in November but also confirmed Every year the trend of slowing losses that began in September, giving reason for the optimism that the industry is slowly improving.
A subsidiary at the end of last month JP Morgan Securities z region Asia and the Pacific released an update for investors, warning a higher number of visits to Macau December compared with the previous two months is due to the Christmas period and should not be taken at face value.
Revenues in 2020 are a gloomy shadow of the 2019 figure
Together, December revenues reached MOP 60.44 billion in 2020, which means a decrease of 79,3% compared to MOP292.45 billion casinos in SAR generated in 2019To end the worst year in Macau's gaming industry history.
More than 3 months after China eased travel and visa restrictions, Macau is still trying to bring players back to their gaming floors as players still find the process of applying for entry is difficult and time consuming.
More travel restrictions
Moreover, recent developments in the UK, where health authorities announced they had found a new strain of the coronavirus, have forced the Macao government to tighten border restrictions, preventing Greater China residents who have been overseas in the past 3 weeks, entrance to the gambling center.
Despite not having registered a single new case in the last 6 months, Macao is reassessing the risk of new waves of infection emerging from both in Hong Kong, and partly in China continental, which is facilitated by cooler weather.
Game analysts, who follow Macao's gambling industry, expect casinos to bounce back this year, with some predictions predicting that gaming levels will return to 80% pre-pandemic levels in 2019.