Macau’s gaming revenue slump deepened in April, plunging 68% from a year earlier to the lowest level in about 18 months as the world’s biggest gambling hub suffers from a tourist drought amid China’s Covid lockdown measures. Gross gaming revenue dropped to about 2.68 billion patacas ($331 million), according to the Gaming Inspection and Coordination Bureau. The results were slightly lower the median analyst estimate of a 66.5% year-on-year decline. In March, the city already reported a 56% drop in gaming revenue. Revenue fell 27% from the previous month, and was down about 89% from pre-pandemic levels in 2019. Key Insights Another China holiday season — the five-day Labor Day break at the start of May — looks set to be a washout again for Macau. While Chinese holidays have traditionally been a peak season for the enclave, China’s strict Covid restrictions in Shanghai, Beijing and elsewhere are keeping […]