Macau's gross gambling income hits record low in June 2020

Macau's overall gross gaming income in June was only MOP $716 million (US$ 89.7 million)

Ho Iat Seng, claimed that the industry will contribute greatly to the island especially after being badly hit by the COVID-19 pandemic.

COVID-19  has caused a worldwide economic recession, including Macau’s gaming industry, which may be the most affected. The Gaming Inspection and Coordination Bureau Macau has just announced that Macau's overall gross gaming income in June was only MOP $716 million (US$ 89.7 million).

It was the lowest GGR month since the outbreak, and it decreased by more than 1 billion MOP on monthly basis. Moreover, 2020 June is the lowest historical GGR since the Macau casino was opened.

During the first six months of the year, the gross gaming revenue for Macau was MOP 33.72 billion, in 2019 it was MOP $149.50 a year-on-year decrease of 77.4%.

In  April,  chief  executive  Ho  Iat  Seng,  Macau's  head  of  government,  cautioned  of  the  consequences  of  the  country's  "excessive 
dependence" on  the  gaming  sector,  and  claimed that the industry will   contribute greatly to  the  island   especially after being badly  hit  by  the COVID-19 pandemic. 

On the 29th of June the University of Macau issued a research report scaling further down their forecasts for Macau 's 2020 GDP. The University recommends that Macau’s economic policies and goals this year should focus on stabilising the labor market (avoiding excessive business closures and failures and maintaining producer and consumer confidence), and then promoting short-term economic recovery and avoiding deep declines.

SiGMA’s biggest iGathering is back with a bang! The networking event at Montekristo will host the iGaming & Emerging Tech community for a ‘post-pandemic’ conversation as SiGMA launches its new calendar! The event is exclusive for 500 people only and if you would like to be part of it, please email Emily.

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