Macau Gaming Slump Deepens as Tourists Stay Away After Covid Outbreak
- Gross gaming revenue falls 50.7% in August to $272 million
- Worst outbreak in Macau, flareups across China hurt sentiment
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Macau is suffering the aftermath of its worst Covid outbreak ever, with gaming revenue falling 50.7% in August as tourists continued to stay away on fear of getting trapped in snap lockdowns.
Gross gaming revenue dropped to 2.19 billion patacas ($272 million), according to data released by the Gaming Inspection and Coordination Bureau on Thursday. The results were worse than the median analyst estimate of a 47.5% year-on-year decline, prolonging a slump that started from March.