The economic consequences of the worldwide spread of the COVID-19 virus are slowly becoming apparent. Many factories in Europe and the United States can no longer meet their production standards because their Chinese suppliers have shut down. Tourism to contaminated areas has been temporarily shut down and entire local economies are shutting down.
The casino industry also suffers from the Corona virus
Macau, the Chinese gambling city with the most money being converted around the world, had to take very rigorous measures in February to curb the outbreak of the virus. These measures resulted in a 87.8% decrease in gambling revenue. At land based casinos, gambling revenue consists of all bets minus payouts. In other words: what remains in the casinos gross below the line. By February 2020, Macau sales had fallen to $386 million from $3.14 billion in the same month of 2019, when it was still operating normally. And no it’s not a typo: in a normal month, over $3 billion in casinos are lost in Macau.
What measures have been taken in Macau because of the Corona virus?
No half measures have been taken in Macau to prevent further spread of the Corona virus. The main measure was to close all Macau casinos for 15 full days, starting February 5. Although Macau was much quieter than usual at the end of January due to all the tourist restrictions, in February the always bustling city turned into a real ghost town. And then, like The Venetian Macau, you can still be the largest casino in the world, if the doors close, the tables will also remain empty. And then not a single Macau pataca is lost at the baccarat and Sic Bo table.
On February 20, most Macau casinos reopened, albeit under strict security measures:
- At the gaming tables, there must always be at least one space available between players
- There must always be at least one empty slot machine between two occupied slot machines
- Standing bets are no longer allowed, sitting is compulsory
- All players, dealers and other casino personnel are required to wear a facemask
What are the long-term consequences of the Corona crisis for Macau?
Not only gambling sales fell by 88%, the restaurants, rooms, shops and bars also closed. The financial impact on the results of Macau casinos will therefore extend far beyond just the loss in gambling winnings. All staff had to continue to be paid during the closure, which costs a casino millions of dollars per day. It is already certain that the year 2020 will be disastrous. The Corona virus effect will certainly continue for a few more months and before visitor numbers and spending patterns are at the old level, you may be a year further.
Opportunity for online casinos
Also a lot of casinos across Europe have closed their doors due to the Corona virus so gamblers should definitely play online now. This is the time where you might want to cut back on going out and being social. You don’t even have to go to the casino to bet because you can bet online. Casinoweb.io offers you the best online casinos so go ahead and pick your choice.