Macao casinos see biggest-ever fall in April

Win is $94.4M for month, down from $2.95B in 2019

Macao casinos experienced their worst gross gaming revenue decline in history in April with revenue down 96.8 percent compared with April 2019, the Gaming Inspection and Coordination Bureau reported Thursday.

The bureau said casinos won $94.4 million (U.S.) in April compared with

$2.95 billion in April 2019.

The decline was the result of border closures that prohibit visitation from neighboring areas, including Hong Kong, because of the coronavirus outbreak.

The decline was even worse than in February, when Macao’s government ordered theclosureofthedistrict’s 41 casinos for 15 days.

For the first four months of 2020, gaming revenue in Macao is down 68.7 percent from a year ago.

Three Las Vegas companies — Las Vegas Sands Corp., Wynn Resorts Ltd. andmgmresortsinternational — operate properties on the Macao peninsula and on the nearby Cotai Strip. Those companies generate about 30 percent to 60 percent of their revenue in Macao.

In earnings calls by Sands last week and by MGM on Thursday, executives said they are still committed to Macao and that expansions in Asia represent major opportunities for their companies.

Wynn spokesman Michael Weaver declined to commentandthecompany has not had its first-quarter earnings call yet.

The Review-journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson. Las Vegas Sands operates six properties in Macao.

Contact Richard N. Velotta at rvelotta@reviewjournal. com or 702-477-3893. Follow @Rickvelotta on Twitter.