The significant decline of the casino industry in 2020 hit the entertaining sector and the city overall. Both businesses and governors reported a more than 70% drop in revenues. For the latest casino news rubric, the LoginCasino team reviews Macau's case in more detail and explains some of the numbers.
Last year, the Macau casino industry's amount of taxes decreased by almost 74% compared to 2019. The city's treasury received only $3.73B in 2020, while at the end of 2019, this sum was close to $14.35B.
At the same time, casinos reported about a 79% decrease in the previous year. Entertaining venues collected about $7.55B in 2020 compared to almost $36B in 2019. The similarity of decline in percentages shows the dependence of the city's treasury from casinos.
Among the tendencies in 2020, the most positive were the following months: January, November, and December. Strict lockdown measures and obstacles to receiving the Individual Visit Scheme (IVS) by mainland Chinese caused a huge drop during the rest of the year, and some of the monthly downfalls reached 90% in year-over-year (YoY) review.
What is the situation at the beginning of 2021?
Even though the Chinese New Year was always among the most attractive periods for visiting Macau, the number of players in 2021 is rather low. While the experts were expecting about 20 000 visitors per day (which is already a reduced forecast), the average coming capacity is lower than 10 000.
However, experts anticipate the recovery process, especially after the digital application procedure for IVS will be activated. At the same time, airport representatives predicted a growing number of flights with time and assured that they are ready for the increasing tourists' flow.