Since early 2020, the casino companies in Macau have been working hard to boost their earnings. There has been some progress lately, yet things seem to be slowing down. New reports indicate that Macau’s casino revenue is still slowly growing, though.
It’s interesting news for the gaming operators here. There is still some serious work that needs to be done for things to return to normal here. Today, we’ll talk about why revenue has been increasing slower here than in other areas of the world.
Here’s what you need to know!
Casinos Around the World Begin Seeing an Increase in Restrictions
There has been a huge amount of attention placed on the land-based casino industry over the past few years. Obviously, this industry was devastated by the events that unfolded in 2020. Things have been improving, though, and many of the world’s biggest gaming hubs have been seeing consistent increases in revenue.
That includes Las Vegas. This popular US gambling hub was hurt economically worse than any other city in America last year. The city’s entire tourism industry came to a screeching halt and all of the casinos here were shut down for months out of the year.
Throughout 2021, the casinos on the Las Vegas Strip have been seeing a steady growth in gambling revenue. These casinos are up and running and most are charging pre-pandemic room rates. Tourism numbers have been surging, as well.
Unfortunately, casinos around the world are beginning to see another wave of restrictions. This is due largely to the spread of the new Delta variant. Countries are experiencing massive surges in infections and governments are warning that new restrictions could be on the way.
Over in Las Vegas, masks are now required on the casino floor once again. The casino owners here fear that another wave of restrictions will lead to another major drop in tourism. For now, that does not appear to be taking place.
Macau is another major gambling hub struggling to recover from last year. Unfortunately, it’s hitting another snag reaching pre-pandemic levels of gaming revenue.
Here’s an Update on Macau’s Casino Revenue
For more than a decade, Macau has been considered by many to be one of the world’s top gambling destinations. Several major US-based gambling companies own and operate casino-resorts here. That includes MGM Resorts and Las Vegas Sands.
Throughout 2020, gambling revenue in this city remained far lower than what was seen in years prior. That wasn’t a surprise when considering the intense regulations that remained in place here for months. Fortunately, things are slowly improving in 2021.
It’s clear that things are improving in this city. Unfortunately, there is reason to have concerns about how the rest of the year will go here. China is currently experiencing a major spike in Covid-19 infections and is ordering intense travel restrictions to and from Macau.
This is guaranteed to have an impact on gaming revenue in this city. Most of the gamblers making the journey to Macau come from Mainland China. If China prohibits travel to Macau, the city could begin seeing the same type of revenue figures reported in mid-2020.
Investors and casino owners here are cautiously watching this scenario unfold. Macau’s recovery has been considerably slower than some of the top casino hubs in the United States. We’ll be sure to offer more updates on the revenue situation here over the next few months!
What’s Happening With Japan’s Casino Plans?
Japan has implemented some of the world’s most intense anti-gambling laws over the past few decades. Even today, most traditional forms of gambling are completely prohibited here. That is set to change in the relatively new future, though.
Back in 2018, news broke that Japan officially legalized casinos. It was hugely exciting news for gambling fans around the country. This doesn’t mean that casino-resorts immediately began operating around the country, though.
The current legislation only allows for three casinos to open in the country. Before this can happen, the government needs to choose three suitable gaming operators. That has proven difficult for a number of different reasons.
Japan’s government has more pressing matters to attend to right now. That includes the ongoing Olympic Games. The event has been progressing, albeit with some difficulties, and there is still time for sports fans to bet on some of the upcoming medal matches!
Are you surprised to see where Macau’s casino revenue stands? Do you expect to see a major drop in gambling revenue soon? 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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