Chinese lottery sales halfway down the road to recovery
The lottery industry has reported?sales of CNY10.51bn (€1.37bn) for March, up on?February’s CNY1.3m
While most gambling business around the world still report record losses, Chinese lottery sales are halfway down the road to recovery. For the first time since the beginning of the year there is light at the end of the tunnel as the industry has reported sales of CNY10.51bn (€1.37bn) for this March.
Although the country regained half of its lottery volume, run rate sales are still almost 70% down when compared to March 2019. The disruption caused by COVID-19 also resulted in a significant year-on-year decline in sales for the first quarter of 2020.?
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Welfare Lottery sales accounted for CNY5.18bn, down 68.7% from the prior year.
China is in the process of recovering after being hit by the COVID-19 pandemic and hardly had any new cases in the last weeks. The majority of provinces resumed lottery sales in April andthe Beijing Sports and Welfare Lotteries resumed from 6 May.?
Welfare Lottery sales accounted for CNY5.18bn of the total, down 68.7% from the prior year, and Sports Lottery sales contributing CNY5.33bn.?
Across both lotteries, digital sales accounted for CNY8.71bn of the total, down 52.7%, while quiz-based games contributed CNY768m, down 91.8%. Instant win games, meanwhile, saw sales drop 57.3% to CNY1.03bn.??
Meanwhile in the casino heaven Macau the total number of visitors has significantly dropped by almost 93.7 percent after it banned all travelers from overseas and imposed a strict 14-day quarantine for visitors from Mainland China due to the coronavirus pandemic.?
SJM Holdings Ltd from Macau just recently issued an announcement about the performance of the first quarter. The company?made a net loss of HK$ 409 Million public. ?
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