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

Content Team July 2, 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 29^th 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.

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