Please ensure Javascript is enabled for purposes of website accessibility

Macao Saw Fewer Than 1,000 People Visit Over Easter Weekend

By Rich Duprey – Apr 17, 2020 at 12:30PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Tourists have all but vanished from the Chinese gambling mecca.

Casino investors looking for signs of a recovery in Macao won't find one occurring any time soon, as visits to the city have almost completely disappeared due to the COVID-19 pandemic. Data from the Public Security Police Force said fewer than 1,000 people visited Macao over the three-day Easter holiday, compared to over 556,000 people the year before. 

Over the first two weeks of April, the most visitors Macao has seen on any one day has been 360, while the fewest was 210. In 2019, the city averaged 139,000 people per day during Easter.

Gaming revenue plunged 88% in February and fell a worse-than-expected 80% in March, but with only a few hundred people per day visiting the city in April, this month's gaming revenue figures could be even more disastrous.

Deserted city at night

Image source: Getty Images.

A global ghost town

Global casino operators Las Vegas Sands, MGM Resorts, and Wynn Resorts have been pummeled in 2020 as they've been crushed by the evaporation of gaming in both Macao and Las Vegas, though even Asia-focused Melco Resorts & Entertainment hasn't fared any better.

While Macao has ostensibly been open for business following a 15-day forced closure at the beginning of February, Beijing has imposed new travel restrictions on tourists heading to Macao, and forces even residents who are returning to the city to undergo a two-week period of quarantine.

It's clear, though, that even those eligible to visit Macao, the only place in China it's legal to gamble, are choosing not to do so.

Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

MGM Resorts International Stock Quote
MGM Resorts International
MGM
$33.40 (1.58%) $0.52
Wynn Resorts Stock Quote
Wynn Resorts
WYNN
$71.73 (1.40%) $0.99
Melco Resorts & Entertainment Limited Stock Quote
Melco Resorts & Entertainment Limited
MLCO
$7.64 (-1.10%) $0.09
Las Vegas Sands Stock Quote
Las Vegas Sands
LVS
$42.40 (0.94%) $0.40

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
342%
 
S&P 500 Returns
110%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 10/05/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.