Published
Land-BasedCasinoFinancialIndustry

Macau dips in Q2 due to decreased gaming and tourism

Amid the COVID-19 pandemic, Macau’s second quarter has experienced dramatic losses across the board, with gaming and other tourism services down by 97.1% and 93.9% respectively, contributing to a 67.8% fall in the city’s GDP for the period, according to the city’s Statistics and Census Service data.

Macauskyline

In Q1, GDP fell 48.7% in real terms year-on-year. The latest result took the cumulative decline in Macau GDP for the calendar year to 30 June to 58.2%.

Additionally, gross gaming revenue fell by 95.6% year-on-year in Q2, and 77.4% year-on-year for the first half, according to separate data released by a local casino regulator.

In an April memo, Fitch Ratings Inc said that it expected Macau to experience “a much deeper economic contraction in 2020” than ‘AA’ credit-rated peers whose economies are less dependent on tourism for survival.


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...