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Macao casino gross gaming revenue down 70.5% in November

Gross gaming revenue continued its slow rebound in Macao in November, but monthly totals continued to languish from the previous year for the 14th straight month.

Macao’s Gaming Inspection and Coordination Bureau on Tuesday reported the region’s casinos won $844.9 million (U.S.) compared with $2.86 billion in November 2019, a 70.5 percent decline.

June was Macao’s worst month by percentage decline with revenue down 97 percent to $89.6 million. Since then, the declines have steadily decreased each month.

The recovery of Macao’s gaming industry has been slowed by government policies to close the region’s borders, eliminating visitation from mainland China, Hong Kong and other Southeast Asian countries. The government began relaxing border policies in August, but tourists have been slow to return to the world’s largest gaming hub.

For the 11 months of 2020, Macao’s 41 casinos have won $6.589 billion from gamblers. That compares with $33.758 billion in the first 11 months of 2019, an 80.5 percent difference.

Macao is important to Las Vegas because three companies have a presence there, including Wynn Resorts Ltd., MGM Resorts International and market leader Las Vegas Sands Corp.

The Review-Journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

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