Published
Land-BasedCasinoFinancialIndustry

Macau’s May GGR drop

According to data released by the Gaming Inspection and Coordination Bureau, Macau’s gross gaming revenues in May experienced a massive drop of 93% compared to the previous year.  

Macauskyline

May is the second consecutive month when Macau’s GGR fell below 90%, with April’s revenues dropping by almost 97%. Exports of gaming services fell by almost 62% in total, with Macau’s gross domestic product dropping by nearly 49%. The first five months of 2020 earned Macau MOP$33.0 billion, which is a 74% drop compared to 2019.

The situation is likely impacted by the mandatory 14-day quarantine that nearby Guangdong Province has implemented for its citizens. All the arrivals from Macau need to be quarantined for two weeks, which halts free travel between locations.

Analysts from Credit Suisse said VIP revenues fell by 90% as well, adding that once the border reopens, VIP business should see “pent-up demand to lead the recovery back to 50% pre-virus level and likely to reach close to 100% level in summer time.”


Casino News Sponsor
Premium+ Connections
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Flutter
Galaxy Gaming
Churchill Downs Incorporated
Oddsworks
Follow Us

Global Gaming Awards Asia-Pacific: Going live

The Global Gaming Awards Asia-Pacific are set for their firs...

Preview: SiGMA Asia 2024

SiGMA’s annual Asia summit comes back to Manila – signif...

Company profile: Praxis Tech

Being payments ready in Asia - A call to action for iGaming...