Macau’s gambling scene is bouncing back, but it might never return to its former glory
Chinese stocks are soaring. American investors are along for the ride. Kanye West is helping to reinvigorate the nation’s economy. And even Macau, the gambling center that suffered under the CCP’s anti-corruption crackdown, and then China’s zero-Covid strategy, is doing better than analysts expected.
Blackjack players and roulette chancers flocked to the region, the only jurisdiction in China where casino gambling is legal, to spend some 17.25 billion patacas (~$2.16B) in September, up more than 15% on the same month last year. Although those takings were ahead of expectations for the month, it was still only 78% of the revenue figure posted in September 2019.
Despite tourist numbers hitting a record monthly high in August, when over 3.6 million people visited Macau, the casinos still aren’t posting the sorts of numbers they were before restrictions slowed the industry to an almost complete standstill in 2020 and 2022. Macau’s casino pit bosses will be hoping that the typically busy Golden Week, which kicks off today, will boost the odds of a full recovery.
Blackjack players and roulette chancers flocked to the region, the only jurisdiction in China where casino gambling is legal, to spend some 17.25 billion patacas (~$2.16B) in September, up more than 15% on the same month last year. Although those takings were ahead of expectations for the month, it was still only 78% of the revenue figure posted in September 2019.
Despite tourist numbers hitting a record monthly high in August, when over 3.6 million people visited Macau, the casinos still aren’t posting the sorts of numbers they were before restrictions slowed the industry to an almost complete standstill in 2020 and 2022. Macau’s casino pit bosses will be hoping that the typically busy Golden Week, which kicks off today, will boost the odds of a full recovery.
