Macau nets 398 million patacas in casino revenues in July, a year-on-year plunge of 95%

Macau’s gross gaming revenues in July stood at 398 million patacas, the lowest monthly tally since records .(Allin photo)

Macau’s gross gaming revenues in July stood at 398 million patacas, the lowest monthly tally since records began in 2003, and the figure represented a year-on-year decrease of 95%.

Since Macau’s gaming liberalisation, it has been rare to see monthly gaming receipts in mere single digits. In addition to the latest wave of COVID-19 outbreak in Macau, industry insiders also blame the Chinese mainland’s tightening of travel permits and restrictions on capital outflow for the poor performance of the gaming sector in the past month.

Macau’s casinos were shut down from 11 July to 22 July in accordance with the government’s COVID containment measures. .

Most casinos reopened on 23 July with limited operations, but business remained sluggish due to travel restrictions imposed by the Chinese mainland as a result of the current COVID outbreak.

In the first seven months of this year, Macau’s cumulative gaming receipts stood at 26.67 billion patacas, down by 53.6 percent year-on-year.