{"id":4692,"date":"2021-01-04T10:27:47","date_gmt":"2021-01-04T10:27:47","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=4692"},"modified":"2021-01-04T10:27:47","modified_gmt":"2021-01-04T10:27:47","slug":"macau-casino-industry-reports-losses-of-29bn-in-2020-due-to-covid-19","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/macau-casino-industry-reports-losses-of-29bn-in-2020-due-to-covid-19\/","title":{"rendered":"Macau Casino Industry Reports Losses Of $29bn In 2020 Due To COVID-19"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.top10casinowebsites.net\/wp-content\/uploads\/2016\/03\/macau-casinos.jpg\" alt=\"Macau Casinos\" title=\"Macau Casino Industry Reports Losses Of $29bn In 2020 Due To COVID-19\" width=\"300\" class=\"alignleft\"\/>Macau, the biggest gambling hub in the world has been significantly impacted due to the coronavirus (COVID-19) pandemic in 2020. Macau depends heavily on its casino industry which was rocked hard due to the lockdown and the restrictions that followed. <\/p>\n<p>Macau is home to some of the biggest casinos in the world and all of them have had a hard time in 2020. Now that the year is finally behind us, reports are coming in which show that Macau\u2019s casino industry suffered a $29.04 billion loss in 2020.<\/p>\n<p>The <a href=\"http:\/\/www.dicj.gov.mo\/web\/en\/information\/DadosEstat_mensal\/2020\/index.html\">Gaming Inspection and Coordination Bureau<\/a>, which is the gaming regulator in Macau said that Macau reported revenues of $36.6 billion in 2019 and only $7.56 billion in 2020 which was <strong>a decline of 79.3 percent year on year<\/strong>. <\/p>\n<p>The last time that Macau\u2019s casinos generated combined revenues of less than $10 billion was back in 2006. The highest gambling revenue recorded by Macau\u2019s casinos came in 2013 when a record $45 billion was brought in.<\/p>\n<p><strong>CNA<\/strong><\/p>\n<div style=\"position:relative;height:0;padding-bottom:56.25%\">\n<iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/vix1c-pbJv8?rel=0&amp;showinfo=0?ecver=2\" width=\"640\" height=\"360\" frameborder=\"0\" style=\"position:absolute;width:100%;height:100%;left:0\" allowfullscreen><\/iframe>\n<\/div>\n<p>&nbsp;<\/p>\n<p>The gambling regulator said that December\u2019s revenues showed that Macau\u2019s casinos brought in $977.5 million which is a 65.8 percent decline from December 2019. However, the positive was that December\u2019s revenues were the highest revenues recorded by Macau\u2019s casinos since January 2020.<\/p>\n<p>Macau\u2019s casinos suffered early on in Jan 2020 in the lead up to the popular Chinese New Year (CNY) holiday due to the first reports of the coronavirus which emerged from Mainland China. Thereafter, <a href=\"https:\/\/www.top10casinowebsites.net\/news\/macau-casinos-shut-down-for-15-days-to-prevent-coronavirus-spread\/\">Macau imposed a 15 day shutdown in Feb 2020<\/a> which significantly hurt the casino industry as what followed was a 6 month consecutive decline where revenues dropped by 90 percent or more.<\/p>\n<h2>What\u2019s In Store For 2021?<\/h2>\n<p>Top casino operators like <strong>Las Vegas Sands Corp, MGM Resorts and Wynn Resorts<\/strong> who all have a strong presence in Macau have been impacted heavily by the losses in 2020. However, they continue to be upbeat that Macau\u2019s resilient gaming market will bounce back in 2021.<\/p>\n<p>Don\u2019t hold your breath though as things are not looking too good for Macau\u2019s casino operators at the moment. The six licensed gaming operators will have to wait and see if Macau renews their gaming licenses which are set to expire in June 2022. <\/p>\n<p>Macau could also be hurt by the new amendment to China\u2019s criminal laws which makes it illegal for anyone to organize groups to gamble in China or overseas. This will <a href=\"https:\/\/www.top10casinowebsites.net\/news\/junket-operators-in-macau-get-32-9-billion-dollar-hit-by-china\/\">impact junket operators<\/a> who play a big role in Macau\u2019s gaming market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Macau, the biggest gambling hub in the world has been significantly impacted due to the coronavirus (COVID-19) pandemic in 2020. Macau depends heavily on its casino industry which was rocked hard due to the lockdown and the restrictions that followed. Macau is home to some of the biggest casinos in the world and all of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-4692","post","type-post","status-publish","format-standard","hentry","category-industry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macau Casino Industry Reports Losses Of $29bn In 2020 Due To COVID-19<\/title>\n<meta name=\"description\" content=\"Macau, the biggest gambling hub in the world has been significantly impacted due to the coronavirus (COVID-19) pandemic in 2020.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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