Macau gaming revenue plummeted by more than 90% for a fourth straight month, as China’s ban on tourist visas continued to deprive the gambling hub of its biggest source of clients.
In July, gross gaming revenue was 1.34 billion patacas (USD 168 million), down 94.5% from a year earlier, according to data from the Gaming Inspection & Coordination Bureau. It was in line with the median analyst estimate of a 95% decline and follows a record 97% drop in June, Bloomberg reports.
A recovery in Macau has been stalled as the coronavirus shut borders, preventing casual gamblers as well as high-stakes players from the mainland from reaching the city’s casinos. Gaming revenue has dropped for 10 straight months, hurt by additional headwinds including the weakened Chinese economy.
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