Macau February Revenues Down 71% From Last Year
The Macau Gaming Inspection & Coordination Bureau reported that gambling figures for February rose 136% compared to the previous year, however this was less than analysts predicted as February 2020 had a 15 day closure because of the outbreak of COVID-19.
Revenues for February stood at $915 million as gamblers from mainland decided to stay at home following advice from local authorities.
February is normally a major revenues driver for Macau as it has the Chinese New Year (CNY) holiday from the 12th Feb for one week.
However predictions were for revenues to rise some 145% from the previous February and also the monthly figures were 8.9% lower than for January.
Arrivals from mainland China to Macau recorded a 65% drop from the same period last year and although revenues show a steep rise from February 2019 if you remove the 15 day closure and compare like for like the revenues are down 71% compared to February 2019.
Macau is still struggling to entice players back but many operators believe the second quarter in Macau will see a return to normality for the world’s largest gambling hub.
