Macau Fight or Flight?


Macau is the epicentre of gambling, glitz and glamour. It’s the Las Vegas of Asia and a world class city offering luxury entertainment. So as the


Coronavirus pandemic brought the gambling world crashing down, all eyes have been on Macau as a marker by which all other gambling markets are measured in terms of recovery and progress.


Formerly a colony of the Portuguese empire, Macau was transferred to China in 1999. Today it maintains separate governing and economic systems from those of mainland China and is the most densely populated region in the world. Te once sparsely populated group of coastal islands have been transformed into major leisure resorts and as such it has become a leading gambling destination.


Since Macau opened its locally controlled casino industry to foreign competition in 2001 it has attracted billions of dollars in foreign investment, whilst China’s decision to relax travel restrictions in 2016 for its residents visiting Macau, has only fuelled gambling growth.


Te peninsula has a 3km land boundary with China whilst the former islands of Taipa and Coloane are joined together by a strip of reclaimed land (Cotai) which now hosts several casino resorts.


Last year the gambling market in Macau was worth $36.5bn (MOP292.3bn) and gambling taxes are responsible for around 76 per cent of government revenue.


CORONAVIRUS As the virus hit Wuhan in China in early January,


Macau was on Covid-19 alert earlier than the rest of the world with its first confirmed case on January 22. Te same day the DICJ requested all casino staff to wear protective masks and cancelled all events for the Chinese New Year


A week later the Independent Visa Scheme (IVS), which enables visitors from mainland China to travel independently into Macau, was suspended along with tour group visas whilst the Hong Kong Macau ferry terminal was closed in early February and flights to Macau were suspended or operated with reduced services.


Since Macau opened its locally controlled casino industry to foreign competition in 2001 it has attracted billions of dollars in


foreign investment, whilst China’s decision to relax travel restrictions in 2016 for its


residents visiting Macau, has only fuelled gambling growth.


Tere are usually four ferry routes operating between Hong Kong and Macau offering a total of 138 sailings per day whilst commercial aircraft movement at Macau airport dropped 93 per cent year on year in July with six or seven daily passenger flights. Tere were seven airlines operating flights to Macau in July connecting the city to 15 destinations across China and Asia mostly. Incoming travellers have to provide a negative Covid-19 test.


Te casinos were forced to close on February 5 for 15 days and reopened on February 20 subject to government safety procedures including limitations on spacing of open tables and slots,


NEWSWIRE / INTERACTIVE / MARKET DATA P83


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