Gambling In Macau Affected By Covid-19 Outbreak

Gambling In Macau Affected By Covid-19 Outbreak

Macau casinos seem to be getting accustomed to dealing with exceptional situations. The month of September 2021 brought forth fresh challenges to the gaming industry in China. Six of the largest licensed commercial casino operators in Macau won a combined total of MOP 5.87 billion ($735 million). The winnings come inspite of a rise in the number of COVID-19 cases across the region.

Pandemic situation in Macau

Macau is one of two special administrative regions (SAR) in China. The other region that is especially administered in Hong Kong. In the latter part of September 2021, Macau reported eight fresh cases due to coronavirus. Due to reporting of the new cases on account of the pandemic, restrictions were implemented once again in the specially administered region of Macau. A result of this is that travelers to the region will have a shortened validity as regards the COVID-19 test. The validity of the test will decrease from 72 hours to 48 hours.

Gambling revenues during the pandemic

The winnings of US $735 million for the casinos in September 2021 is a gain of 166% over the winnings as compared to the same month last year. The September winnings are also an increase of 32.4% as compared to that of August 2021. Revenues have been largely unpredictable and bumpy as far as the gambling industry is concerned since the beginning of the year. Gross Gaming Revenue (GGR) in Macau seemed to be heading towards the way to recovery each month throughout the year. Revenue increased from $912.4 million from February 2021 to $1.3 billion in May 2021. However, by June 2021, concerns of new cases of coronavirus led to a GGR of only US $820 million. July 2021, as well as August 2021, witnessed even greater turbulence as far as earnings were concerned. The earnings declined to $554 million in August 2021, when four new cases were reported in Macau.

Investors are confident about the gambling business in Macau

In spite of the uncertainty, the casinos in Macau generate revenue that is greater than any other gaming and gambling market in the world. Reaction on Wall Street as regards the revenue figures in Macau has been extremely positive. Macau-based firms have made gains on the stock market.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.