Macau has reported a 66% drop in gross gaming revenue (GGR) in December, falling to an estimated $979 million in December year-on-year.
The gambling hotspot recorded a 79% drop in all-year revenue. Analysts predict 2021 results will be 80% of 2019's gaming revenue.
The results come straight from the Gaming Inspection and Coordination Bureau, which regulates the casino industry in the special administrative region.
Meanwhile, full-year revenue has declined by another 79%, ending a moribund year for one of Asia's biggest gambling hubs.
As Macau struggles to lure back high rollers and recreational casino players, the city is planning to diversify its revenue streams in 2021.
A rumor that China would seek to introduce its digital yuan in Macau's casinos was quickly dismissed, but the city will still seek to host sporting events and other forms of tourism to boost net receipts.
In the meantime, Macau has done well in reining in the spread of covid-19, with the city not reporting a single case in six months.
This has marked a tremendous success for the enclave, while the rest of the world continues to struggle.
However, this year should bring Macau some much-coveted relief. Analysts from Sanford C. Bernstein predict that Macau will reach 80% of 2019's GGR in 2021, making for a good recovery overall.
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