Macau’s revenue is improved despite the month’s weak start
This month, Macau is expected to bring in MOP 18.5 billion (US$2.3 billion) in gross gaming revenueDS Kim, Mufan Shi, and Selina Li from JP Morgan believe that the gaming...
Macau casinos to shut down for a week
While China is facing another covid outbreak, Macau is closing all its casinos to prevent spread-rate increase.
At the moment, the city has more than 1500 new cases which started from the middle of last month, and over the past 2 years this is the 1st time Macau’s casinos are being closed. For this reason Macau’s authorities urged everyone to close all unnecessary business for a week.
After the global pandemic which took place back in 2020, this one in Macau is the worst one yet. Almost ninety thousand people are in a lockdown, schools and entertainment places are closed. Though travelers are allowed to visit Macau if the motive of their visit is important and everything will be controlled by the police. The violation of travel restrictions will be strictly punished.
Last Saturday (June 9), the Macau Government Information Bureau announced that all commercial organizations would see closures unless they are essential.
“From july 11th to 18th companies and entertainment places will stop working, not including the ones that are necessary for our communities and our everyday life.”
highlighted the statement.
Obviously, this decision is going to have its effects on the market. Reuters, which is a news agency, announced that after the statement gaming stocks went down, with Sands China shares decreasing by 9%.
According to some analysts the gaming industry might need more time to recover from the negative effects of the coronavirus effect.
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Macau’s June gaming tax up 8.9% to $967M
In June, the Macau SAR government reported gaming tax revenues of MOP$7.78 billion (US$967 million), marking an 8.9% rise from May's MOP$7.15 billion (US$889 million) and a...
