Total revenue drops to just MOP3.1 billion (€350 million) following the 15-day Coronavirus casino closure.
Macau.- The Gaming Inspection and Coordination Bureau (DICJ) revealed a dramatic plunge in gross gaming revenue in February with figures down 87% year on year.
Total revenue was just MOP3.1 billion (€350 million) for the month, but the figures come as no surprise after the government took the decision to close all 41 of the city’s casino for 15 days as part of efforts to halt the Coronavirus outbreak.
After the suspension was lifted, the DICJ issued additional health preventive measures such as regular cleanings and maintaining a minimum distance between customers.
Travel restrictions, including visa bands and flight cancellations, led to a visitor numbers dropping to record lows during February.
According to Macau Government Tourism Office (MGTO) Director, Maria Helena de Senna Fernandes, occupancy rates at local hotels fell to 11.8 percent with average daily room rates as low as MOP690 (around €77).
Research by consultancy company STR also indicated that the Macau hotel sector suffered the largest impact from the Covid-19 epidemic in the Asia Pacific region.