Here’s Where Macau’s Revenue Figures Stand for October

Macau’s losing streak continues once again. As most analysts predicted, the gambling industry here saw yet another dip in its monthly revenue earnings. Today, we’re going to take a close look at the report on Macau’s revenue figures for the month of October.

It’s been an extremely difficult year for the casino operators here. Losses are piling up and things don’t seem likely to turn around here anytime soon. There are a few glimmers of hope for the territory’s gambling industry, though.

Let’s look at what’s going on here!

Third-Quarter Gaming Earnings in Macau Plummeted This Year

Since February, the casino industry in Macau has faced issues. All of the city’s gambling venues were briefly shut down that month due to health concerns. They were back up and running within weeks, yet the industry has never recovered here.

For many months, intense travel restrictions were being implemented by China to prohibit travel into the gambling hub. These restrictions were eventually lifted and many hoped it would lead to a new surge in visitation to Macau. That has not turned out to be the case. Casinos here saw more than $800 million lost in 2020’s third quarter.

Travel rates into the city have been very low in recent months. The drop in VIP gamblers, in particular, has been taking a major toll on the casinos. Historically speaking, these players are responsible for bringing casinos the majority of their revenue.

Not long ago, several analysts gave their opinion that Macau’s recovery would take years. They went on to claim that a steady influx of casual gamblers, rather than VIP players, would help to bring Macau back to normal. Fortunately, there does appear to be an increase in tourists from Mainland China recently making the trip to Macau.

Things are slowly beginning to improve here. That doesn’t mean the city is taking a sigh of relief, though. Revenue earnings remain significantly lower here than they were in 2019. New reports have just come out that show how much the city’s casinos earned last month.

Here’s a look at how the casinos here managed to fare in October.

Macau’s Revenue Figures for October Have Been Released!

Many have been eagerly awaiting to see how Macau’s gambling industry fares each month. Prior to 2020, this city was known for having the world’s most successful casino industry. That can no longer be said.

As we just mentioned, things appear to be slowly improving. The casino owners here can’t get too excited, though. Macau’s revenue figures during the month of October are still down by 72.5% when compared to October of 2019.

Interestingly, gross gaming revenue here has increased by 228.8% month-on-month. That represents the best month for the casino industry here since January. Most credit this jump to Mainland China’s new travel allowances.

There are many different ways to view these reports. It’s great to see such a significant jump in gambling revenue earned over the past month. When looking at the year-on-year reports, it’s clear that the casinos here still have a long way to go.

Macau’s recovery has been much slower than that of major US gambling destinations. Cities like Las Vegas and Atlantic City are seeing revenue dips right now. These are still much lower drops than what is being seen in Macau.

There are many questions as to how all major casino destinations will fare in 2021.

Casino Destinations Will Likely Struggle for Years

All land-based casinos have been affected this year. US casino companies were some of the first to receive help from the federal government after the shutdowns back in March. This federal funding can only do so much and many of these companies are now asking for more money.

Back in March, most predicted that the casino industry would be in a better place than it currently is in. While casinos around the country are now open again, most are still struggling immensely.

There are, however, a few things helping these companies. The US sports betting industry has quickly emerged as one of the biggest in the world. Several states have been seeing a record-number of bets placed in recent months. This is helping to bring in some much-needed money to casino companies and the states themselves.

Several casino companies now offer online gaming platforms, as well. This form of gambling has been surging in popularity this year. Even in states without regulated casino industries, there are a huge number of amazing online casino sites available.

Places like Las Vegas and Macau will likely continue to struggle for years. We’re seeing improvements in Macau’s revenue figures, yet it’s slow and still far behind what most had hoped. We’ll need to wait and see how this city and others like it manages to do over the next two months.

Are you surprised to see another year-on-year revenue drop in Macau? When do you expect this trend to change? Let us know in the comments section below!