Throughout 2020, we’ve been reporting on Macau’s gambling revenue figures. This massive gambling hub has seen dramatic dips in its casino earnings and no one seems to know when things will recover. New reports show that November gaming revenue in Macau dropped once again.
Some predicted that November would prove to be a successful month for Macau. That doesn’t appear to be the case. Today, we’ll take a look at exactly how much money the casinos in this territory brought in last month.
Let’s check it out!
Tourism Numbers in Macau Increased Last Month
Everyone in the gaming industry knows that things in Macau have been tough. In fact, this city has seen its gamblings earnings drop for the past few years. 2020, unfortunately, has simply made this situation considerably worse.
Back in February, the casinos here were forced to temporarily close down. Within a few weeks, they were operational again. Travel restrictions set in place by Mainland China made traveling here almost impossible, though.
These travel bans remained in place for months. They were finally removed, yet the influx of tourists some expected did not take place. Instead, there’s been a slow trickle of Chinese gamblers making the trip to Macau.
November saw a slight increase in tourists here. Reports claim that Macau saw an average of 20,600 tourists every day last month. Local hotel occupancy here reached 45%, which represents an increase from October.
Many questioned whether or not this increase in tourists would result in a spike in casino revenue. The casino companies based here certainly hoped so. To their disappointment, this does not appear to be the case.
Casino revenue fell in this city again and many of the businesses here are feeling the effects.
Here’s a Look at November Gaming Revenue in Macau
Macau is no longer the world’s most profitable gambling destination. This territory is struggling immensely right now with no clear end in sight. That’s apparent with the new reports on November gaming revenue in Macau now out.
According to these reports, Macau saw a gross gaming revenue of $845 million in November. That’s a drop of 7% when compared to October’s revenue. Incredibly, it’s a 70.5% overall drop in revenue when compared to November of 2019.
Analysts initially predicted a drop between 60% to 65% in gaming revenue here. It seems fewer people are gambling here than some anticipated. There’s also been a notable drop in VIP players making the trip to Macau lately.
This news has to be difficult for the major US casino companies operating here. That includes Wynn Resorts and Las Vegas Sands. Both have been seeing revenue declines in the US and Macau isn’t proving to be the saving grace some thought it would be.
Hopefully, December ends up being a more profitable month for the city. Some fear that if things don’t improve, several of the casinos here may be forced to permanently shut down. We’ll need to wait and see how things play out over the next few months.
There may be one interesting way for this territory to boost its gambling revenue.
More Officials Call for the Regulation of Online Gambling in Macau
A huge number of countries around the world now allow online gambling. Most of the countries in Europe have been regulating this industry for years. Even many states in the US are now allowing different forms of online gambling.
Most of these countries are profiting massively off this industry. That’s particularly true with internet sports gambling. It’s a hugely popular form of gambling and seems to be growing every single month.
Several prominent leaders in Macau are now calling for the regulation of online gambling. With land-based casino revenue low, casinos and other businesses here are struggling immensely. Online gambling could help to make up for some of that revenue loss.
Of course, Mainland China is notoriously strict on all forms of online gambling. It’s unclear if the government would sit back and allow Macau to begin allowing these platforms.
Nothing has been made official on this. Macau’s government continues to debate how effective this will be in the long run. Stay tuned for more updates over the next few weeks!
Are you surprised to see where the November gaming revenue in Macau stands? When do you expect revenue here to return to 2019’s levels? Let us know in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. …