December was another disappointing month for the Macau casino industry. This is because despite gambling analysts predicting a recovery, it was not as high as their prediction. However, according to the latest gambling statistics, the Macau Casino Revenues are Down 66% in December in comparison to 2019. The means that the December gross gaming revenue are down by $978 million.
Gambling Analysts had high hopes for December because the Macau monthly gambling tax collection was up 203% in November. Furthermore, they thought that since China once again made travel visas available, the revenue would start going up. Thus, they thought the losses would only be down by 60% but once again, the real numbers were disappointing.
Macau Casino Revenues are Down for 15 Consecutive Months
According to the best online casinos in Korea, December became the fifteenth consecutive month of falling gambling revenues for Macau. Furthermore, the total GGR for 2020 was about $7.57 billion which is a 79% drop from 2019. In addition, the GGR in 2019 was down 3.4% in comparison to 2018.
Interestingly enough, Macao has not had a new case of the Coronavirus in the last 6 months. However, even after travel visas from mainland China are in effect, casinos have not seen any significant increase in customers.
Some casino forums predict that gambling revenues for January 2021 will slightly increase. However, they believe that numbers will still be down in the low 60% range. This is because Macau still has several weaknesses that need to fix before they can see a rise in revenue.
One of them is legalizing online gambling which has proven to be effective to curb casino losses around the world. However, according to iGaming Platform news, the gaming legislation in China for Macau is seeing delays because of the pandemic. Thus, it is unlikely that Chinese players will be able to play online slot machines anytime soon.
This is because the legislation will not vote on any new gambling regulations until the second half of the year. In the meanwhile, online gambling remains illegal and Macau continues to crack down on illegal online gambling.
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