Morgan Stanley experts are hoping for a much brighter 2021 for Macau casinos. This is after the recent Coronavirus outbreak which led to all casinos being closed in all the affected gambling cities in the world, including Macau.
But, could this be a chance for online casinos to flourish? It surely has positively affected the online gambling interested. Mainly, this is because a lot of gamblers have been switching to playing casino games online during the quarantine period.
There are roughly over 200 casinos in the world. But, we can say 60% of those casinos are in the areas affected by the COVID 19 pandemic. Hence, most gamblers will have no option but to make to switch to online casinos.
Macau Casinos Revenues
After the Chinese government had announced a 15-day casino shut down, the revenue dropped by 87.9%. This is definitely more than the 50% plunge predicted by the government earlier.
Furthermore, the casinos’ revenue will keep ranging from the 70%- 80% range anytime in 2020. But, Morgan Stanley experts are predicting that everything will go back to normal in 2021.
Currently, 40 casinos are operating in Macao. However, some of them are still in use as centers to treat Corona-virus victims.
Effects of the Casino Shutdown in Macau on Online Gambling
The online gambling industry has witnessed an over 30 % revenue increase since the shutdown of Macau casinos. Meaning, they are actually facing positive effects from the casino shutdown.
However, most of the online sports betting websites have been facing a nearly 80 percent revenue decline. Mainly, this has been caused by the postponements of most major sports tournaments and leagues.
This can be the chance that online casinos needed to prove themselves to the world. Hence they now have to make sure that they provide good quality services to retain their new customers.
Macau is among those deeply hit by the COVID19 outbreak. Especially since the city had some of the prevalent cases in China. It will definitely take some time for the city to get back to life. But this has come as a good opportunity for most casinos online as they are witnessing a rise in subscribers.