Macau: the world's casino capital awakens

Financial losses in the gaming market

Most of all, this news affected the owners of gambling establishments, who suffer the main losses due to the pandemic. This is not strange, since their profits are several times higher than similar establishments in Las Vegas. This is due to the peculiarities of the contingent and the higher status of the casinos themselves. The previously introduced two-week quarantine on tourists who left the city of Macaobyl was also canceled. Now, a visit to the mainland of the country does not require placement in a special isolation zone. Despite all the economic losses, the incidence of Coronavirus in Macau is extremely low – no more than 50 fatal cases.

The situation in Macau is expected to improve soon

The economic losses of the casino capital directly depend on the number of tourists, which has almost halved compared to the same period in the previous city. Despite continued work after the first wave of the pandemic earlier this year, the number of visitors to gambling establishments began to plummet. The streets of the city were practically empty. The vast majority of tourists (approximately 90%) in Macau are from China. The largest casinos from world operators such as MGM, Wynn and Galaxy are located here.

The global investment market predicted huge losses due to the lack of a steady flow of tourists to the city. According to the source, Macau lost $1 billion in profits in 2 months of this summer. Comparing the first quarter of 2021 with the previous 19th quarter, the number of players dropped by almost 85%. After such a rapid decline, a serious economic rehabilitation is needed.

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