BREAKING NEWS – Gaming revenues fall by 94.5pct y-o-y in July

Gross gaming revenues have taken a 94.5 per cent year-on-year plunge in July to about MOP1.3 billion (US$168.3 million), marking the fourth consecutive month this year with a fall over 90 per cent.

Still, the month is an improvement from the record low MOP716 million in gaming revenues reported in June, as Covid-19 pandemic restrictions greatly impacted the sector.

Meanwhile, cumulative gaming revenues for the first seven months of this year decreased by 80 per cent year-on-year to some MOP35 billion.

The number of visitors in the Macau SAR went down by 85 per cent year-on-year in the first half of this year to about 3.2 million, with the average occupancy rate of guest rooms in the city at only 10 per cent.

Border restrictions have been gradually eased between Macau and Guangdong, and since July 15 people travelling from Macau were allowed to no longer have to undergo the mandatory 14 days quarantine in the Chinese Province, if they can provide a negative Covid-19 test and make a declaration of their good health through the health codes of both regions.

The decision has led to an increase in the daily number of tourists entering the SAR from less than 2,000 to some 5,200, with total entries and exits reaching some 215,600 at the moment.

However, a negative Covid-19 test is currently required for entry in casinos, even to local residents, which has led to a decrease in gambling by local punters.

Last week, it was also revealed that the issuing of all types of visas allowing the entry of mainland residents in the Macau SAR – with the exception of tourism visas – will be reinstated first to Guangdong residents and from August 12, to residents of all Mainland China provinces.