Macau has extended its suspension order for non-essential businesses for a further five days. This means casinos will remain closed until at least July 23, though it remains unknown whether authorities will stick to the plan or extend the lockdown measures further.
Casinos Continue to Take a Hit
Macau’s gaming venues have been forced to shut their doors on July 11 for the first time in two years due to a fresh wave of COVID-19 infections spreading throughout the city.
The ongoing restrictions have had a significant impact on casino operations across Macau. The latest onset of the pandemic in the city which began in June resulted in strict travel restrictions and low tourist numbers. All of these led to the lowest monthly gross gaming revenue (GGR) for the industry since September 2020, which stood at just MOP2.48 billion (US$306.8 million).
Casino GGR will be much worse in the third quarter, according to global rating firms. Moody’s Investors Service said in a recent update that GGR for the mass segment will continue to be weak at just 30% of 2019’s figures. The weak performance will extend through next year, with the industry likely to see some improvement only in 2024.
More Testing to be Conducted
With the recent lockdown extension, affected businesses will remain shut for a further five days, during which authorities will conduct additional rounds of mandatory nucleic acid testing (NAT) for all residents. As of Friday, July 15, Macau has recorded 1,706 total positive cases.