According to a professor and tourism expert, Macau will recover from the impact of the Covid-19 pandemic faster than Las Vegas.
Macau.- The gaming sector in Macau is likely to recover faster than Las Vegas, according to University of Macau professor Glenn McCartney.
During a talk at the British Chamber of Commerce in Macao, the tourism researcher said: “I say that because Macau will catch up. Nevada has its problems with Covid-19 breakouts and having to close down some hospitality areas. Macau has been very cautious on its step-by-step recovery, and I think that will pay off in the medium to longer term. In that regard, recovery will be faster.”
“If I’ve seen anything about the Macau casino data in the last decade is its ability to get revenues back quicker thanks to the Chinese market […] It will take a few months, but you will soon see the leaps and bounds of revenue,” he added.
Las Vegas casinos reopened on June 4, but in the first month since reopening, gaming revenues for the Nevada state remained down by 45.5 percent to US $566.8 million.
Casinos in Macau faced only a 15-day shutdown in February but border restrictions with Guangdong province continue to impede a recovery of revenue.
Starting from August 12, mainland Chinese authorities will resume issuing some visas, allowing the entry of mainland residents to the Macau SAR, but tourism visas, including the individual travel visa, will not yet resume.
Professor McCartney said that a resumption of the Individual Visit Scheme (IVS visa) for Guangdong visitors would be a precious step towards recovery for the gaming sector.