Unlike casinos in Las Vegas, Macao was allowed to reopen in mid-February.
There was a problem, however. No one wanted to come.
The only place you can legally gamble in China made 80% less than it did a year ago.
80%!
That's a steep plunge by anyone's standards. It's even a steeper plunge than they expected, and they expected a steep 70%.
The simple fact is no one wanted to go out. They also stopped allowing visitors who weren't Chinese, in fear of the coronavirus spreading more there.
They are now down 60% for the year, and it's unlikely that will go up much given what's going on.
Adding to that, Macao was only down for 15 days before being allowed to reopen, which is not enough time for the virus to fully leave a place.
Hell, many times people that do have it go without symptoms for that long.
It's not going to be a good year for casinos.
Would you go to Macao right now? Reply and give me your thoughts.
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