A number of international casino game and equipment suppliers and manufacturers are reportedly abandoning the once dominant Macau market for increasingly welcoming locals like the Philippines and Singapore.
According to a report by Bloomberg News Service published by the Straits Times newspaper, the move was largely attributed to lower consumer demand in the former Portuguese region, which has become more severe as China continues to commit to various coronavirus-related travel restrictions. While some controls have recently been lifted, social distancing rules are reportedly still in place at many game tables in the city, with mainland gamblers increasingly avoiding Macau for fear of being locked in a steep lockdown like the one that covered Shanghai last month.
A noticeable break-up:
The Light & Wonder Gaming and iGaming units of U.S. giant Scientific Games Inc. recently announced they will move expatriates to new offices in the Philippines, which has now become the largest market across Asia. The agency also said the unidentified Japanese casino equipment maker will move up to 30% of Macau’s workforce to operations in Manila and Singapore, along with up to half of its related inventory, due to supply chain issues and a roughly 90% plunge in local revenue.
Latest twist:
Macau was once the world’s most profitable casino market, reportedly earning well over $36 billion in total annual gaming revenue during 2019, before the pandemic. However, the region has since ceded the title to Las Vegas after recording related statistics of around $10.7 billion last year.
Abbreviated Attractiveness:
Bloomberg reported in June that a surge in the coronavirus forced Chinese officials to suspend quarantine-free travel to Macau for more than a month, which has dealt a devastating blow to the local casino industry, which relies heavily on mainland punters. It said this has caused tourist arrivals to plummet to 300 per day, and total gaming sales in July to a record low of about $49 million.
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