This story was published more than 2 years ago.
The world's largest gambling market saw revenues plummet in 2020 as revenues dropped 79.3% when compared to 2019's financials.
Gross Gaming revenues for the year came to MOP60.44 billion, down from 292.46 billion in 2019. Things did rebound a bit in December, as revenues were MOP7.82 billion. This was the second-highest total fr the year but down 65.8% from last year.
Galaxy Entertainment saw revenues drop 93.9%, and its Macau revenues dropped 85.2%. In all, Galaxy posted a $386.9 million loss. The Wynn Palace saw revenues fall 97.4%, and the Wynn Macau saw revenues drop 89.2%.
Macau has suffered due to the Covid-19 pandemic as Chinese visitors have been unable to visit the enclave. VIP and traditional baccarat games are the biggest verticals for Macau, and both of these segments are highly dependent on traffic from parts of China coming to visit. China looks to be opening up though, and it appears that 2021 is when we'll see Macau start the long process of building back to what it once had.