Macau casino revenue falls 70.5% in November

first_imgAsian casino operator Galaxy Entertainment saw its GGR decline 93.9% in Q3, to HKD$867m (£84.4m/€94.6m/USD$111.8m). Q3 earnings for Melco showed a decline in revenue of 85.2%, as the operator reported a $386.9m loss. Results 2020 Macau casino revenue falls 70.5% in November Macau’s travel restrictions have had a major financial impact on many casino operators. MGM Resorts International published results in October, showing that revenue from the operator’s properties in Macau was down 93.6% at $46.9m. Macau’s gaming industry brought in gross gaming revenue of MOP6.75bn (£632.86m/€705.92m/$845.34m) in November, down 70.5% from the same month in 2019. Regions: China Macau Topics: Casino & games Finance Land-based casino Results 2020 For the year to date, Macau has generated revenue of MOP52.62bn, down 80.5% on the MOP269.62bn brought in by the end of November last year. November’s revenue does, however, represent the second highest total for the Chinese Special Administrative Region since it took in MOP22.13bn in January. That month was the last before the imposition of travel restrictions, resulting from novel coronavirus (Covid-19), which revenue for Macau’s casinos. Tags: Macau Current year-to-date revenue is just over the MOP50.31bn brought in between January and February 2019 alone. Subscribe to the iGaming newsletter The month’s GGR was down 7.2% compared to the MOP7.27bn taken in October, though this was a smaller decline than seen in the same month last year, when revenue was 13.5% behind October. Macau’s Wynn Palace saw its revenue decline 97.4% year-on-year, bringing in just $15.7m in the third quarter, as the Wynn Macau property also saw revenue decline 89.2%, bringing in $51.4m. Travel restrictions in Macau contributed significantly to the operator posting a $831.5m net loss. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 1st December 2020 | By Conor Mulheir Email Addresslast_img read more