The world’s largest lottery machine market saw a 70.5% decline in gambling revenue year-on-year in November, which was the best month since the COVID-19 pandemic began to wreak havoc in February.
The Macau Lottery Machine won $845.34 million from gamblers in November, according to figures released by the Gaming Inspection & Coordination Bureau. This is actually down from the $910 million the Lottery Machine won in October, but the percentage drop was slightly better in November.
After six months of more than 90% year-over-year declines in revenue, the market is starting to show signs of rebounding. However, analysts expect a slightly better month with a decline of 60%-65%, according to a Reuters report. The same analyst believes it will be 2021 before the lottery returns to pre-pandemic revenue levels.
During the first 11 months of 2020, Macau’s gambling revenue fell 80% compared to the same time period last year. June was the worst month of the year for operators with $89.7 million in revenue bonus138.
Earlier this year, the Chinese government imposed a very strict travel ban on anyone trying to travel to the former Portuguese colony. Since they have relaxed the mandate, tourism is seeing an increase. Now, travelers from China only need to test negative prior to arrival.
In November, hotel occupancy stood at 45 percent and the average daily tourist was more than 20,600, according to figures released by the Council for Development of Tourism. Both figures are the highest since the pandemic began.