Macau’s gaming revenue plunging 68% from a year earlier to the lowest level in about 18 months

Macau’s gaming revenue slump deepened in April, plunging 68% from a year earlier to the lowest level in about 18 months as the world’s biggest gambling hub suffers from a tourist drought amid China’s Covid-19 lockdown measures.

Gross gaming revenue dropped to about 2.68 billion patacas, according to the Gaming Inspection and Coordination Bureau.

The results were slightly lower the median analyst estimate of a 66.5% year-on-year decline. In March, the city already reported a 56% drop in gaming revenue.

The Bloomberg Intelligence index of Macau’s six casino operators fell 12% in April, compared with a 4% drop in the benchmark Hang Seng Index.

Visitation in March fell 30% from a year earlier to almost 527,000 trips, most from China, according to data from Macau’s Statistics and Census Service.

(Bloomberg)