WYNN - Macau casino revenue slides to all-time low in July

Gross gaming revenue in Macau fell 95% year-over-year during July to 398M patacas ($49M), according to the Gaming Inspection and Coordination Bureau.

The monthly tally was slightly better than the consensus expectation for a 98% drop, but marked the worst month ever for the gambling center due to COVID restrictions that closed casinos completely for 12 days. The previous GGR low was $716M patacas back in June of 2020.

Looking ahead, the outlook for Macau traffic is improved with COVID restrictions being eased on August 2 in Macau. Authorities will allow venues such as bars and gyms to reopen and restaurants can restart indoor dining. Analysts have still warned that casino traffic will still be very light for the month of August, but could see a jump in the fall if the zero-tolerance COVID policy is eased.

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