Macau’s attempts to regain its status as one of the most profitable gambling hubs in the world are not exactly going as planned. This city continues to face setbacks and gambling revenue has been fluctuating throughout the year. New reports claim June gaming revenue in Macau has fallen once again.
Compared to 2020, things are going well. The city still has a long way to go to reach its pre-pandemic levels of revenue, though. Now is a great time to talk about what led to the latest drop in earnings here.
Let’s get into it!
Macau Continues Working to Revive its Gambling Industry
The city of Macau was once considered the biggest, most profitable gambling hub in the world. There are a huge number of massive casino-resorts located here. Some of these are owned and operated by major US-based companies including MGM Resorts and Las Vegas Sands.
Even after the casinos reopened, tourism was almost non-existent here. Mainland China prohibited travel to and from Macau for months. It wasn’t until late summer that the Chinese government began allowing its citizens to make trips to Macau again.
2021 is already shaping up to be a better year for this territory. Travel is now mostly open here, yet tourism numbers remain far below what was seen in 2019. Most analysts expect to see these lower figures for at least the rest of the year.
This week, news came out detailing how much the casinos in this city brought in during June. Now is a great time to look at these new revenue reports.
Here’s a Quick Look at June Gaming Revenue in Macau
Macau has come a long way when considering how dire things were here in 2020. Casino companies in the city were losing a staggering amount of money. Some felt this downward trend could continue for years.
Throughout 2021, Macau has been reporting year-on-year increases in its gaming revenue. Monthly revenue figures have fluctuated, though. We are now beginning to hear about how this city’s gambling industry fared this past June.
Most analysts attribute this drop to an increase in travel restrictions after a COVID outbreak in Mainland China. This halted much of the travel to and from the city. These intense travel restrictions are being rolled back in July and a large jump in revenue seems inevitable.
Despite the tough month, there is reason to be optimistic for the future of Macau. China has seemingly handled its own health crisis well and many Chinese nationals will likely resume travel into Macau over the next few months. Many US companies are now investing heavily into their operations in Macau in anticipation of a tourism surge.
Things are going even better for Nevada, the world’s other premier casino destination. In fact, the casinos here just broke a new revenue record!
Nevada Casinos Break New All-Time Record for Gaming Revenue
Much like Macau, the state of Nevada was forced to shut all of its casinos down for months last year. Cities such as Las Vegas were devastated by this decision. Tourism came to a halt and gaming revenue was at its lowest point in history.
Things have turned around quickly this year, though. All of the casinos throughout the state are able to operate in the same way they did prior to 2020. Even the rule requiring masks to be worn inside casinos is no longer set in place here.
Nevada’s gaming industry has been steadily improving as the year goes on. News surfaced this week claiming the state set a new all-time record for gaming revenue! It’s a tremendous feat and shows just how far things have come here in a relatively short period of time.
The casinos throughout Nevada managed to bring in an astounding $1.23 billion over the month of May. That beats the previous all-time high record of $1.17 billion brought in by casinos during October of 2017. It also marks the third-straight month that casinos have earned more than $1 billion in overall gaming revenue.
Analysts expect this trend to continue for the rest of 2021. The opening of Resorts World Las Vegas on June 24 has helped to significantly boost tourism in the city. The upcoming Fourth of July weekend should also result in a major tourism boom. We’ll continue offering revenue updates in these areas over the rest of 2021!
Are you surprised to see where June gaming revenue in Nevada stands? Let us know in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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