Macau casino gambling revenue fell ‘only’ around three-quarters in October, which apparently qualifies as a roaring success in this pandemic-plagued year.
Figures released Sunday by Macau’s Gaming Inspection and Coordination Bureau (DICJ) show market-wide casino gaming revenue of MOP7.3b (US$914m), a 72.5% decline from the same month last year but the highest monthly total since the MOP22.1b reported in (mostly) pre-pandemic January.
The 72.5% decline was also the smallest in percentage terms since January and October’s financial sum represented a significant rise from September’s MOP2.2b. However, October did include the annual Golden Week holiday celebration, so perhaps everybody might want to opt for chugging their cheaper champagne for the time being.
For the year to date, gaming revenue sits just under MOP45.9m, an 81.4% decline from the sum reported over the first 10 months of 2019. But with gambling tax revenue accounting for 80% of the special administrative region of China’s budget, this unprecedented shortfall is having serious ramifications not just for casino operators but for Macau residents as a whole.