Macaus gaming earnings hit an all-time low in July, as gambling halls were compelled to shut down due to the COVID-19 outbreak in the area, resulting in a substantial drop in land-based casino activity.
The total income for July was 398 million Macau patacas (£40.2 million/€48 million/$49.2 million), a decrease of 95.3% from 8.44 billion Macau patacas in July 2021 and considerably lower than the 24.45 billion Macau patacas in July 2019 before the pandemic.
The July figures also show a decline of 86.0% from June, when casinos were forced to close to comply with local COVID-19 control measures.
For the first seven months of the year, revenue totaled 26.67 billion Macau patacas, down 53.6% from the previous year.
Macau shut down from July 11 to 22, and then extended the closure of all non-essential industries and businesses as the outbreak worsened, trapping many people in various locations around the city, including the Lisboa Hotel Casino.
Casinos and other businesses involved in industrial or commercial activities began to reopen on July 23, but on a limited scale.
Macaus top official, Ho Iat Seng, declared last week that a public bidding process will be held from July 29th to September 14th for six casino licenses that are available.
The revision of Macau’s gambling legislation, which was adopted in May, streamlines the previous framework of three concessions and three sub-concessions into six concessions, and the public bidding is a consequence of this change.
At present, six operators – Las Vegas Sands, SJM, MGM, Galaxy Entertainment, MGM China, and Wynn – are permitted to provide gaming services, with almost no significant distinction between concessions and sub-concessions.
In the meantime, a new committee comprising nine members – the “Gaming Lucky Games Concessions Public Tender Committee” – has been formed to oversee the tender procedure.
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