Gambling Revenue in Macao Nosedives Due to Low Visitor Turnout

By That's GBA, August 3, 2020

0 0

Gambling revenue in Macao fell 94.5% last month year-on-year as low visitor turnout continues to plague the special administrative region.

Reuters reports that the USD162.89 million in revenue made in July was on par with analysts’ expectations. Data released by Macao’s Gaming Inspection and Policy Bureau (DICJ) show gaming revenue has declined year-on-year for 10 consecutive months. For the year-to-date, revenue has dropped by almost 80%.

Although quarantine and border-crossing restrictions between Guangdong and Macao are loosening, the world’s biggest casino hub still has a long road to recovery.

READ MORE: Travel Restrictions Relaxed Between Guangdong and Macao

In July, Macao saw around 2,000 daily visitors on average – a significant drop from the 108,000 daily average in 2019.

South China Morning Post reports that analysts are hopeful that tourism visas to Macao could resume this month or September, with the SAR in talks with authorities on the Chinese mainland to resume tourist travel.

In the meantime, tourism has picked up in the island province of Hainan, as Sanya ranked first among Chinese cities in the number of reservations at luxury hotels. According to a report by Chinese travel portal Qunar, Sanya has become a very popular destination among travelers.

[Cover image via Pixabay]

more news

China's Economy Rebounds as Industrial Profits Surge in June

Profits at major industrial firms rose at the fastest pace in more than a year last month, soaring 11.5% year-on-year.

Travel Restrictions Relaxed Between Guangdong and Macao

This is seen as a step towards jumpstarting Macao’s tourism and gambling sectors as Guangdong accounts for 46% of Macao’s visitors.

Phrases to Learn for China's Street-Stall Economy

If you haven’t heard, street stalls appear to be making a comeback in the Middle Kingdom

China's GDP Expected to Grow 1% in 2020, Says IMF

Contributing factors to China’s forecasted growth include a swifter recovery in investment and services than expected.

China Has a New Largest Trading Partner

China now trades more with Southeast Asia.

Quarantine-Free Travel Between Hong Kong, Macao and Guangdong?

Lam is hopeful that a new plan will allow people from Guangdong, Hong Kong and Macao who meet certain requirements to be exempt.

Here's Where People Are Spending the Most in China

Shanghai recorded the strongest consumption performance in the first quarter of 2020.

China's GDP Contracts for First Time Since 1992

The drop in economic growth was greater than expected, with analysts forecasting a 6.5% decline.

0 User Comments

In Case You Missed It…

We're on WeChat!

Scan our QR Code at right or follow us at thatsonline for events, guides, giveaways and much more!

7 Days in China With thatsmags.com

Weekly updates to your email inbox every Wednesday

Subscribe

Download previous issues

Never miss an issue of That's Magazines!

Visit the archives