Bloomberg News reported on the 1st that casino sales in Macao reached an all-time low last month in the aftermath of the urban blockade following the spread of COVID-19.
According to the Macao Gambling Inspection and Coordination Bureau (GICB), casino industry sales fell 95% to $49 millionlast month, the lowest level since related statistics began in 2009.
This is above the expert's forecast of a 97% decrease, but it is still 98% less than the level before COVID-19.
In Macao, casinos are responsible for 80% of government tax revenue.
Following February 2020, which was the early days of COVID-19, the Macao government againsuspended casino operations early last month by taking measures to block the city from spreading COVID-19.
The Chinese border blockade is maintained, and a negative certificate of COVID is requiredwhen entering casinos or restaurants.
Bloomberg pointed out that although Macao's casino industry is stretching again, it is difficult to expect a meaningful recovery in sales as it is not easy for the main customers to visit, who are mostly Chinese.
In the aftermath of the strict ZERO-COVID policy, Macao has handed over the "Throne" position of the world casino, which has been maintained since 2006, to Las Vegas.
Sanford Bernstein, an analyst at market information provider Vitaly Umanskysaid border control is stifling the recovery of the Macao casino industry.
Bernstein added that the strengthening of the crackdown on illegal gambling by Chinese authorities since late last year is also a negative factor for the Macao casino industry.