Month: June 2020

Việt Nam

GDP of 'Macau casino capital' falls by 50%

Posted on by Admin

01-10-2020 |  

Lockdown measures to contain the Covid-19 epidemic have had a major impact on macau's casino, hotel and tourism business.

Macau's statistics agency recently said the region's GDP in the first quarter of this year fell by 48.7 percent, the fifth consecutive quarter of GDP plunge. In particular, the number of tourists coming to Macau was also 68.9% less than the same period in 2019. The tourism and casino business – which accounts for a large proportion of the city's GDP – slipped 63.9% and 61.5% respectively.

Macau GDP jailed for 19 years

Macau's economy is heavily dependent on the casino business. Photo: Casio.org.

The cause came from lockdown measures prevented when the novel coronavirus pandemic – originating in Wuhan, China – broke out and spread throughout the world. Macau's economy is heavily dependent on casinos, so the plunge in revenue from casinos, hotels and the tourism industry is causing a major economic shock to the post-Covid-19 "black country."

Currently, Macau still restricts visitors from China due to fears of a re-outbreak of the disease. The order is expected to be lifted earlier this month, while the individual tourist visa program will be restarted shortly afterwards.

Bloomberg quotes Vitaly Umansky , senior analyst at Sanford C. Bernstein in Hong Kong, commenting on the future of the red-and-black economy. "There are not many prospects for macau's economy after the pandemic, especially as the Chinese are less in need of gambling due to the recession."

Meanwhile, experts at OCBC bank expressed optimism for the city's tourism industry. "Once the global blockades are lifted, the worst period for the Macau or Hong Kong tourism industry will end. No economy can recover and grow while still worrying about a second wave of infections," the experts stressed.

By Zing

Tin mới
Tin khác
To Top

Việt Nam

Before Covid-19, how luxurious were macau casinos?

Posted on by Admin

01-10-2020 |  

The hotel and casino complexes in the "Asian casino center" are designed and built massively, luxuriously with many high-class services.

song bac o Macau England 1
Grand Lisboa is a hotel and casino complex, located at 2-4 Avenida de Lisboa. This is the property of the gambling business Sociedade de Turismo e Diversões de Macau chaired by the late billionaire Ha Hong Yard. With its unique lotus doll-shaped architecture, this 258 m high building is considered the tallest building in the "red and black land". Photo: Casino.org.
song bac o Macau england 2
The casino area at grand lisbon hotel has more than 390 gaming tables and 880 slot machines open from 13-21h daily. The hotel has a service capacity of up to 400 rooms, in addition to a fashion shop, bar and other high-end services. Photo: Hungry Hong Kong.
song bac o Macau england 3
When visiting the casino capital of Macau, it's flawed not to stop by the MGM Macau resort , home to the country's top casinos. With an area of up to 26,500 m2, MGM is equipped with 1271 card machines and 427 gaming tables. Photo: Wall Street Journal.
song bac o Macau england 4
In addition to the gaming space, it also offers visitors the opportunity to experience the unique artwork on display along the resort's paths. When entering the hotel lobby, guests will not be overwhelmed by the magnificent inside. The unique lotus-shaped entrance will create more excitement for gamblers when coming to MGM. Photo: Culture Trip.
song bac o Macau england 5
As the first Las Vegas-style casino to appear in Macau, the sands slot area spreads over 23,000 square meters with about 200 gaming tables and over 1,000 slot machines. It is also one of the many destinations that attract a large number of gamblers when coming to Macau. Photo: Agoda.
song bac o Macau England 6
With a prime location in the city center, close to Macau/Hong Kong Ferry Terminal, Sands attracts more weekend visitors. Photo: Wall Street Journal.
song bac o Macau england 7
Inspired by the light capital with the Eiffel Tower, The Parisian is considered Macau's second most famous casino district with an observation tower atop the tower to enjoy panoramic views of the city. This casino area specializes in serving delicious and attractive French food. Photo: Trip Advisor.
song bac o Macau england 8
The casino area is designed with an area of 12,500 m2, with a capacity of 2500 slot machines and 400 gaming tables. This is probably an interesting destination for large "gamblers" in Macau as well as in the region. Photo: Agoda.
song bac o Macau england 9
Wynn Palace is one of macau's most luxurious casino and resort complexes. With an area of over 19,000 m2, about 350 gaming tables and more than 1,000 slot machines, Wynn was also chosen as a place of entertainment for gambling enthusiasts when coming to Macau. Photo: Time Out.
song bac o Macau england 10
In addition, Wynn Palace offers guests a luxurious, splendid space with a giant man-made lake. Every night, there is a water music program with many other high-class services. Photo: Agoda.
By Zing
Tin mới
Tin khác