Macau’s gambling revenues dive 72.5 pc in Oct

Photo Courtesy: Reuters

HONG KONG (Reuters): Gambling revenue in Macau plunged 72.5 percent in October year-on-year, extending the steep coronavirus-driven declines of recent months but at a slower pace as visitors to the world’s biggest casino hub from mainland China picked up slightly.
October’s figure of 7.3 billion patacas ($914 million) released by Macau’s government on Sunday, was in line with analyst expectations of a drop of around 72 percent-74 percent. Gaming revenues have slumped since February due to coronavirus travel restrictions with the last six months posting an over 90 percent drop.
China resumed Macau tourist visas from Sept. 23 but demand has remained tepid due to ongoing coronavirus regulations and muted sentiment from VIP high rollers to gamble.