The Real Deal - New York Real Estate News

Pandemic-driven tourism slump is bad luck for Macau’s casinos

Posted: 05 Sep 2021 06:00 AM PDT

Macau’s casinos had an abysmal August, continuing an 18-month run of hard luck in the coastal Chinese city as the pandemic continues to impact tourism. Gross gambling revenue last month fell to $554 million, the lowest monthly total so far this year and a mere fraction of the $3 billion per month averaged recorded in 2019, according to the Wall Street Journal. Macau is a major source of revenue for some of the world’s largest