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A lot of land casinos are highly dependent on tourists for incomes. But, Macau Casinos rely on their own market therefore analysts have concluded that they will recover first. Other countries in the Asia Pacific may struggle to pull through in these difficult times.
This is after the March 2020 COVID 19 shutdown which has affected almost every part of the world and industries. Casinos where part of the causalities of the lockdown as they were regarded as non-essential services.
Therefore, after losing millions in a short space of time. Will they be able to fight through and get back on their feet? Also, a lot of players were now relying on online pokies for safe gaming and better casino bonuses and real money gaming. Shaking them off from the best deals may be quite difficult.
Macau Casinos Facing a 93% Revenue Fall
According to the May report, Macau casinos are still on the downward spiral at 93%. But, according to some, this is actually a good thing considering that the revenues had gone down but 97% back in April.
Furthermore, analysts had actually predicted that there was going to be a 2% improvement in May. Meaning, the losses will be at 95%, hence, the Macau casinos actually did a good job in April by getting a good 4% improvement.
Additionally, a financial report states that the casinos only managed to get a US$ 221 million in May as compared to the billions that they usually make. Additionally, the casinos have also lost over 74% of last year’s revenue.
Also, some casinos like the Wynn resorts and MGM resorts are still struggling when ti comes to getting those record-breaking sales.
Chinese Expected to Bring Their Economy Back
Most gambling economies world-wide depend on the Chinese high rollers. And, with the Chinese not travelling for real money gaming, they will have to spend their money at home casinos. Meaning, Macau casinos will definitely be recording good sales in no time.
Additionally, Macau casinos were among some of the first casinos to re-open. Therefore, it is normal that they get better than the rest of the casinos in the Asia Pacific that opened about 2 months later.
Other Casinos Still Facing Difficulties
Some casinos are still to record any progress when it comes to casino gaming. Are players going to be ready to risk their lives and go to land casinos when they can safely gamble online? Especially putting all the casino rewards and the fun that they can find online.
Additionally, there have been some records on workers catching the virus as well. Therefore, players might be a bit reluctant about going back.
Online Gambling Industry
There is so much safety and convenience that comes with online casino gaming. Therefore, it might be a struggle for land casinos to retain n their players. Meaning, online casinos are definitely striving in these desperate times.
The revenue for most online casinos has risen by over 60%. And, from the look of things, they do not seem to be going down anytime soon.
Conclusion
It can take a while for land casinos to fully recover from their losses. But, there is still hope for most people as soon as the lockdown is fully over. However, gamblers will be sticking to online casinos for their real money gaming.
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