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2020 has surely been an adventure that many Macau Casinos or any other land casino would not want to experience.
After the COVID 19 lockdown, a lot of land casinos are struggling to stay afloat. For instance, the land casinos have a lot of losses they have to recover from first before business gets back to normal.
Since Australian Casinos are still closed, they can at least take hints from the currently open land casinos on what to expect when they get to open.
The Effect of the Lockdown on Land Casino
Land casinos are definitely one of the major casualties the COVID 19 lockdown business-wise. For example, in Australia the Starr Casino Resort had to let go of 6000 members of their workforce.
On the other hand, the Macau Casino market had some of the casinos change into COVID 19 emergency help centers. Meaning, it might take a while for them to recuperate and start functioning normally again.
Additionally, Macau land casinos rely on tourist revenues. But, since it was one of the major hotspots for the corona-virus, fewer people are actually visiting the city. That is even though it has not had any new COVID 19 cases for the past 36 days.
Macau Casino Market May Not Recover As Quickly as Anticipated
According to Melco Resorts CEO, Lawrence Ho, faith is running out on the recovery of the Macau casino market.
This was after the 2020 quarterly review on the 14th of May 2020. In early 2019, the company recorded an impressive US$120.1 million dollars in profits. But, this year the turnaround was quite big. The casino is currently recording losses of up to US$ 360 million.
This is still after a lot of measures have been implemented by the casino to make sure that it survives. For example, operations have been reduced from US$3 million to US$ 2.2 million.
The Casino Industry May Never Be the Same Again
The Macau Casino market is not the only one suffering from the COVID 19 casino closure. Meaning, the whole land casino world is suffering.
Even after cutting expenses by 70%, some casinos are still struggling to get back up. And, with American casinos starting to reopen as well, we still have more to look forward to before we make any final conclusions.
But, from the gaming process to customer retention, land casinos still have a long way to go. Therefore, the extent to which the damage was made will be seen after business full gets back to normal.
Conclusion
The Macau casino market is the biggest gambling market in the world. And, we can safely say that the results that it is showing now, will determine the survival of other land casinos in the world. But, at least the online gambling industry is not being affected in any other way.
Meaning, you can still play your real money games at some of the best and the biggest casino online right now. And, online casinos come with even better payouts, bigger casino rewards, and more fun and exciting slot games.