Right from the outbreak of coronavirus in China, Macau casinos have been facing a consistent decline in gaming revenue. February turned out to be the worst month as Casinos in the gaming capital of the world saw around 88% drop in revenue. According to the latest gaming reports, the revenue dropped to a record 87.8 % in February year-on-year, which is largest in the Macau history.
The gaming market in Macau was in doldrums right before the start of 2020. Macau casinos closed out 2019 with an annual drop of 3.4 percent from 2018. The situation only worsened in the start of 2020 after the Coronavirus outbreak, which led to a 11.3 percent drop in gaming revenue in January.
Analysts believe that despite the record drop of around 88%, the Coronavirus won’t be able to keep casino players away from gambling, so its impact on the gaming market should be limited in coming months. Analysts predict a 24 percent drop in gross gaming revenue for 2020. They are estimating a 70% decline in March and a 35% decrease in the second quarter after the deadly virus subsides.