Macau's gaming revenues tumble 87.8 pct in Feb over coronavirus impact

Reuters

Posted at Mar 01 2020 02:58 PM

A security guard stands outside the closed Grand Lisboa casino, following the coronavirus outbreak in Macau, China February 4, 2020. Tyrone Siu, Reuters

HONG KONG - Gambling revenue in Macau plunged 87.8 percent in February year-on-year, with casinos shuttered for two weeks in the world's biggest casino hub as authorities imposed a raft of measures to keep visitors away to contain the coronavirus outbreak.

February's figure of 3.104 billion patacas ($386.74 million) was worse than analyst expectations of a drop of around 80 percent. 

While Macau authorities gave the greenlight for casinos to reopen from Feb. 20, casino executives and residents say revenue will remain badly crimped in the Chinese territory's 41 casinos and for the businesses dependent on them because of the health restrictions and strict entry regulations on tourists.

Macau makes over 80 percent of its revenues from casinos but tourist visits have all but dried up.