LOTTERY SALES IN CHINA FALL IN 2019
Lottery sales in mainland China decreased by approximately 17.5% during full-year 2019 operations, the government recently revealed.
China.- Lottery activity in mainland China is still navigating a downward trend, as 2019 results are in. To nobody’s surprise, the numbers are negative once again. Lottery sales during the year’s operations decreased by 17.5% year-on-year.
According to official data from China’s Ministry of Finance, sales totalled €55.8 billion. The Sports Lottery generated most of the sales at €30.44 billion.
The gaming industry in Macau resumed operations earlier today, after being shut down for 15 days to avoid a coronavirus spread in the region. 29 of the city’s 41 casinos reopened at 12 am local time.
The remaining 12 casinos asked the government for permission to delay the reopening. Macau had given Macau’s six operators 30 days to get back into business earlier this month.
The 12 casinos that will remain closed until further notice are: Sands Cotai Centre, Melco’s Altira, Galaxy’s Waldo, Rio and President; SJM’s Oceanus, Eastern, Macau Jockey Club, Golden Dragon and Casino Taipa; and Macau Palace and Greek Mythology (which haven’t been operating for a few years).
Nomura Instinet analyst Harry Curtis explained that it will take time for the industry to fully recover, and that the breakthrough will come once China resumes its individual visit schemes (IVS).
“The consensus among local operators we connected with over the weekend is that there will be little material improvement in visitation, GGR and EBITDA until the IVS and tour group customers are permitted to cross the border, which may not normalise for another six weeks,” Curtis said. “The reopening is akin to keeping a body alive without the food required to sustain it,” he warned.