Casino Hotel Market in China

 Casino Hotel Market in China 2020-2027 to Bring Projected Growth with Major Key Players Caesars Entertainment Corporation

Macao the capital of Casino Hotel in China

Gambling revenue slumped in April in Macau due to measures ordered to prevent the spread of the coronavirus in the former Portuguese colony, a territory ultra-dependent on tourism.

The Macanese Bureau of Gaming Inspection and Coordination reported that the gaming industry in April had revenue of Patacas 754 million ($ 95 million), down 97% from the previous level. three billion dollars collected in April 2019.

Macau had closed all of its casinos for two weeks in February after the virus emerged in central China. They have since reopened, but the restrictions decided on to fight Covid-19 mean that tourists from mainland China can no longer enter the special administrative region.

The only territory in China where gambling is allowed, Macau had already seen its gambling revenues fall by 11% in January compared to January 2019, then by 88% in February, and by 80% in March.

Some of the big gambling groups lose millions of dollars every day. But unlike other sectors of activity which will find it difficult to recover from the current crisis, Macanese casinos rely on enormous reserves from the boom years.

And unlike the Las Vegas operators, they are not weighed down by exorbitant debt.

In a note sent to clients in early April, DS Kim, an analyst at JPMorgan Chase estimated that Macau casinos had "ample liquidity to survive for more than a year this unprecedented period of + near zero revenues +", according to Bloomberg News.

This crisis, on the other hand, risks weighing heavily on the public finances of a territory which derives 80% of its revenues from the gaming sector.

Macau, which has recorded fewer than 50 cases of the coronavirus and no deaths, has had no cases for 20 days.

Like Hong Kong, Macao is governed under the principle "One country, two systems" which had presided over its surrender by Portugal in 1999 and guarantees it non-existent freedoms in mainland China.

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