With casinos shut for two weeks in Macau, the world’s second biggest casino hub, revenues from gambling in Macau have plunged by 87.8% in February in comparison to the previous year as authorities imposed a series of measures to keep visitors away to contain the coronavirus outbreak.
In February Macau reported revenues to the tune of $386.74 million (3.104 billion patacas) a drop of nearly 80% against analyst’s expectation.
Although Macau authorities gave the greenlight for casinos to reopen from February 20, according to casino executives and Macau residents, gambling revenues are likely to be badly hit given the entry regulation of tourists and the current health restrictions.
Around 80% of Macau’s revenues come from casinos. The entry of tourist visits have all but dried up in the region.