Casino revenue in Macau sees 1,014% surge in April
Macau’s casino revenue saw an impressive increase during the month of April after it reported revenue worth nearly $1.05 billion. This represents a huge 1,014.4% boost compared to the same month of last year, as mentioned by the Gaming Inspection and Coordination Bureau of Macau.
Revenue during the month was the highest reported monthly revenue of this year, which even exceeds the $1.03 billion during the month of March. Up to now during 2021, revenue for the four months leading up to the end of April came up to $4 billion, representing a 2.6% increase from the same period of 2020.
Just as most markets across the globe, Macau struggled quite a bit during the beginning of the COVID-19 pandemic, as the region was hit with harsh travel restrictions and had to shut down all of its casino in order to suppress the spread of the coronavirus. 2020’s total market revenue crashed down with a whopping 79.3% decrease year on year, down to $7.5 billion. Many of the biggest operators in Macau witnessed a huge drop in their revenue throughout 2020, as Sands China reported a loss worth $1.52 billion with a revenue decrease of 80.8%, and Melco Resorts and Entertainment dropped by 69.9% with a $1.26 billion loss.
As the jurisdiction’s gambling and hospitality market begins to reopen, monthly revenue keeps dropping even compared to the levels before the COVID pandemic. In January of last year, which was before the virus began to spread, revenue was at $2.7 billion during the entire month. Back in April, Las Vegas Sands reported that its net revenue dropped by 15.6% during Q1 of this year, however most of it was caused by its operations in Macau.