Macau Sees Little Sign of Recovery as Gaming Revenue Falls 90%
Macau gaming revenue showed little sign of improvement, notching a sixth straight month of declines of at least 90%, as a gradual relaxation of travel and visa curbs by China has so far brought few visitors.
- Gross gaming revenue fell 90% to 2.21 billion patacas ($277 million) in September from a year earlier, according to data from the Gaming Inspection & Coordination Bureau. That was worse than the median analyst estimate for an 86% decline.
Key Insights
- Macau also faces challenges as China is tightening controls on outbound capital flow. Liquidity continues to be tight in the enclave, with junkets seeing capital withdrawals.
- The industry expects gaming revenue during China’s Golden Week, which started Thursday, to be about 30%-50% of last year’s level, said Linda Chen, vice chairman of Wynn Macau Ltd.
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