Macau gambling revenue more than doubles in February
Tuesday 09 de March 2021 / 10:22
2 minutos de lectura
(Macau).- February’s gambling revenue in Macau was up massively year-over-year as the market passed the one-year mark since the COVID-19 pandemic took hold in China.
According to numbers released by the Gaming Inspection & Coordination Bureau, the casino market in the former Portuguese colony won $15.14 million from gamblers during the month. Those figures represent a 135.6% year-over-year increase from February 2020.
It’s not a complete apples-to-apples comparison, however as the pandemic hit China before the rest of the world. For 15 days in February 2020, the government forced casinos to shutter, which crushed earnings for the month since properties were only open for less than half the month.
It’s a slight decline from the $1 billion won by casinos in January, but the three fewer days could account for that difference. Revenue is still down 71%, however from February 2019 before the virus began ravaging gambling markets worldwide.
The increase snaps a 17-month streak of year-over-year declines as the market was experiencing a pullback even before the virus was introduced into the world.
Tourism to Macau generally increases during February, but arrivals to Macau dropped by 65 percent as the government urged citizens to stay home. Despite the warnings, Chinese officials allowed tourists to enter Macau from the mainland, which sent casino stocks soaring, according to a report from Yahoo! Finance.
Wynn Resorts, Las Vegas Sands Corp and MGM Resorts all saw spikes earlier this week. Las Vegas Sands Corp recently sold its Las Vegas properties so that it can focus its efforts on the Asian markets. It also renamed itself Sands Corp.
The government removed restrictions for citizens from the mainland to enter as well, which should further boost the market’s recovery in the coming months.
Categoría:Casino
Tags: Sin tags
País: Macao
Event
SBC Summit Americas 2025
13 de May 2025
Redefining Innovation: Soft2Bet’s Market-Ready Tech and Experiential Advancements at SBC Summit Americas
(Fort Lauderdale, SoloAzar Exclusive).- In this Q&A, Slobodan Georgijevski, Soft2Bet Senior Sales Manager, highlighted innovation and presence of the firm at recent SBC Summit Americas, and shared a broader industry insight and evolution over the years.
Friday 06 Jun 2025 / 12:00
Belatra Games Unveils 'Cyber Gypsies' and AI-Driven Innovations at SBC Summit Americas 2025
(Fort Lauderdale, SoloAzar Exclusive).- At SBC Summit Americas 2025, Belatra Games took center stage with groundbreaking innovations, introducing its newest slot experience, Cyber Gypsies. Alongside this thrilling launch, it reinforced its commitment to AI, gamification, and player protection, setting a new standard for engaging and responsible gaming. But what makes these innovations stand out, and how is Belatra redefining industry trends? Let’s dive in.
Thursday 05 Jun 2025 / 12:00
Blokotech at SBC Summit Americas: Cutting-Edge Launches and New Features
(Fort Lauderdale, SoloAzar Exclusive).- In an exclusive interview with SoloAzar, Alberto Alfieri, Blokotech Co-Founder & Executive Chairman, discussed the innovations the company presented at SBC Summit Americas 2025 and how they address the industry's evolving needs, among other topics.
Monday 02 Jun 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.