The collection of nearly 40 casinos in Macau reportedly had a good August after a sequential 450% increase in total monthly gaming revenue to a peak of $270.8 million.
The figures come on the heels of last month’s record low of $49.2 million due to the implementation of a local coronavirus-related shutdown for 11 days from July 11, according to a report by GGRAsia, which cited official information from regulators at Enclave’s Office for Game Inspection Coordination. Despite optimism and detailed explanations from sources, the August figure is still down 50.7% year-on-year, nearly 91% below the roughly $3 billion recorded in the 31 days of 2019 before the pandemic.
Long delay:
Macau is reportedly home to about 682,000 people, and its 37 casinos are operated by six companies, including Galaxy Entertainment Group Limited, SJM Holdings Limited, MGM China Holdings Limited, Melco Resorts and Entertainment Limited, Sands China Limited, and Win Macau Limited. The operators are reportedly preparing to bid for the rights to officially extend the game for another 10 years, despite having just posted an eight-month total game sales tally.
Regarding correlation:
Analysts Shirley Yang, Louis Lee and Vitali Uwanski of Sanford C Bernstein Limited, a prominent Asian brokerage, reportedly reportedly announced in official documents that Macau’s daily total gaming revenue last month was around $8.7 million, but was nevertheless “still below May levels” of at least $12.3 million. The three also said that anyone traveling to mainland China from their former Portuguese residence remained subject to quarantine in the city of Zhuhai until Aug. 3.