Macao Casino Revenue Plunges Another 93% in May

Casinos operating in Macao saw revenue plunge another 93% in May as China maintained travel restrictions to the region due to the coronavirus pandemic. However, it was better than the 95% drop analysts had been expecting after seeing a 97% decline in April.

The Gaming Inspection & Coordination Bureau reported casinos generated just 1.7 billion Macanese patacas, or $221 million, in May. So far in 2020, gambling revenue of 33 billion patacas is down 74% from last year, though last year's total was down slightly from 2018.

Macao remains mostly dark during the pandemic. Image source: Getty Images.

Source Fool.com