Macau gambling revenue fall 70.5% YoY in Nov
The decline was not as severe as in recent months as Macau saw a pickup in visitors from its key market.
According to figures released by Macau’s government on first of December, gambling revenue in November amounted to MOP 6.75 billion, about USD 845.34 million, a 70.5% drop year on year.
The decline was not as severe as in recent months as the world’s biggest casino hub saw a pickup in visitors from mainland China, but was slightly higher than analysts’ expectations of a drop of around 60-65%.
According to data released after a Council for the Development of Tourism meeting last month, in the first week of November, the local hotel occupancy rate reached 45%, a slight improvement when compared to October.
Moreover, as of mid-November, Macau recorded a daily average of tourists that exceeded 20,600.
These data represent a slight improvement compared to the daily average of around 19,000 visitors and 38.1% of hotel occupancy rate recorded in October, a month that had also recorded ‘daily average of around 19,000 visitors, an increase of 26% compared to the daily average for September’.
Editing by Rachel Hu
