Macau’s casino industry continues to suffer after the Gaming Inspection and Coordination Bureau, announced that gross gaming revenue (GGR) for June dropped 97% year-on-year.
GGR for June was down to MOP716m ($89.7m). This is the third consecutive month that the revenue has dropped below 90%, and the highest drop so far.
Previously, GGR in April fell by almost 97%, bringing in MOP$754m. May suffered a drop of 93% with MOP$1.76bn in GGR, mainly due to the travel restrictions between connecting regions. Year-to-date, Macau’s market has fallen by 77%, bringing in only MOP33.72bn, a significant drop from MOP$149.50bn in 2019.
Visitors from mainland China and Hong Kong are the usual guests in Macau’s casinos. Even though Macau doesn’t have quarantine requirements when entering the city, guests who are leaving will be required to undertake 14-day quarantine back home, which further discourages travel between regions.
Hong Kong announced it will be extending the mandatory quarantine until 7 August, while the talks about safe travel between regions continue. So far, the situation in Macau doesn’t have an ending in sight.