{"id":173,"date":"2024-06-18T12:06:49","date_gmt":"2024-06-18T09:06:49","guid":{"rendered":"https:\/\/vegas2web.icu\/2024\/06\/18\/macau-casino-recovery-not-expected-until-2023\/"},"modified":"2024-06-20T17:05:35","modified_gmt":"2024-06-20T14:05:35","slug":"macau-casino-recovery-not-expected-until-2023","status":"publish","type":"post","link":"https:\/\/vegas2web.icu\/2024\/06\/18\/macau-casino-recovery-not-expected-until-2023\/","title":{"rendered":"Macau Casino Recovery Not Expected Until 2023"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/eu3VX7zXbiI\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A Jefferies expert proposes that Macau&#8217;s gaming sector may not rebound economically until 2023. <\/p>\n<p>The COVID-19 pandemic severely impacted Macau&#8217;s casinos. The government&#8217;s stringent travel limitations in reaction to the outbreak devastated the gaming sector, causing unemployment figures to skyrocket to levels unseen since 2009. <\/p>\n<p>Statistics published earlier this month by Macau&#8217;s Gaming Inspection and Coordination Bureau revealed that gross gaming income in July plunged by 95% year-over-year, representing the most significant monthly decline since the pandemic&#8217;s onset.<\/p>\n<p>Aggregate gambling earnings for July in the region were a meager 3.98 billion patacas (approximately US$493 million), indicating an 84% year-on-year reduction. <\/p>\n<p>Analyst Andrew Lee posits that tourist arrivals in Macau will probably stay low due to apprehensions regarding potential tighter quarantine protocols, with a complete recuperation not anticipated until 2023.<\/p>\n<p>His projection is more downbeat than that of Ben Lee, a managing partner at IGamiX Management &#038; Consulting, who previously forecast a bleak July performance, with August expected to follow the same trend.<\/p>\n<p>Although casinos resumed operations in July, they have been functioning under rigorous constraints, including limits on employee and patron capacities. <\/p>\n<p>Travel between Macau and mainland China remains limited, significantly impeding visitor counts. <\/p>\n<p>Macaus gambling sector suffered a significant decline in the second quarter of 2022, as travel and leisure activities remained affected by COVID-19 limitations. MGM China saw its income nearly halved, while Melco Resorts &#038; Entertainment recorded a comparable 48% decrease. Studio City, a cinema-themed property also managed by Melco, announced a staggering $1.9 million loss for the period.  Looking forward, Studio City cautioned that the pandemic will continue to have a substantial effect, with &#8220;considerable consequences&#8221; anticipated on their activities, financial stability, and overall forecast for the remainder of the year. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Jefferies expert proposes that Macau&#8217;s gaming sector may not rebound economically until 2023. The COVID-19 pandemic severely impacted Macau&#8217;s casinos. The government&#8217;s stringent travel limitations in reaction to the outbreak devastated the gaming sector, causing unemployment figures to skyrocket to levels unseen since 2009. Statistics published earlier this month by Macau&#8217;s Gaming Inspection and [&hellip;]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macau Casinos: 2023 Rebound? Not So Fast, Says Expert<\/title>\n<meta name=\"description\" content=\"Will Macau\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vegas2web.icu\/2024\/06\/18\/macau-casino-recovery-not-expected-until-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Casino Recovery Not Expected Until 2023\" \/>\n<meta property=\"og:description\" content=\"Will Macau\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vegas2web.icu\/2024\/06\/18\/macau-casino-recovery-not-expected-until-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Discover the Secrets of Casino Success | Licensed &amp; Trusted\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-18T09:06:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T14:05:35+00:00\" \/>\n<meta name=\"author\" content=\"Tyler &quot;Tango&quot; Stewart\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tyler &quot;Tango&quot; Stewart\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/vegas2web.icu\/2024\/06\/18\/macau-casino-recovery-not-expected-until-2023\/\",\"url\":\"https:\/\/vegas2web.icu\/2024\/06\/18\/macau-casino-recovery-not-expected-until-2023\/\",\"name\":\"Macau Casinos: 2023 Rebound? 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