#Covid Zero

Yogonet

Macau casinos see worst year on record after gaming revenue drops 51% in 2022

Macau casinos have posted their worst year since 2004 as China's strict Covid Zero policies wrought havoc on the gambling hub. The Gaming Inspection and Coordination Bureau said Sunday that gross gaming revenue in December fell 56% from a year earlier to 3.48 billion patacas ($433 million), slightly below the median estimate of a 57% decline.…

Finance ・ 04 January 2023

Yogonet

Macau casino gaming revenue hits all-time low in July collecting only $49M amid Covid restrictions

According to the Gaming Inspection and Coordination Bureau, Macau's gaming revenue has hit an all-time low; their worst month ever since records began in 2009. Data shows gross gaming revenue fell 95% to 398 million patacas ($49 million) in July, 98% lower than pre-pandemic levels. Macau's casinos reopened on July 23, after a nearly two-week…

Covid ・ 27 November 2022

Business Live

Casino stocks jump as Macau gets ready to welcome back Chinese tour groups

Macau casino stocks surged the most in six months on Monday after the city announced plans to welcome back tour groups from mainland China as soon as November, a breakthrough for the gaming hub's Covid-19-hammered, tourism-dependent economy. Wynn Resorts soared as much 15% on Monday to $68.89 in New York, the biggest intraday gain since November.…

Finance ・ 26 September 2022

The Japan Times

Casino suppliers quit Macao for resurgent Singapore and Philippines

Suppliers of slot machines, baccarat table systems and other casino equipment are moving out of Macao to more welcoming markets, in another sign of the damage China's "COVID zero" policy has wrought on the formerly bustling gambling hub. With demand in Macao waning, Light & Wonder, a leading provider of products used in casinos, is relocating its…

Jobs ・ 23 September 2022

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Vegas Slots Online

Analyst: Las Vegas Casinos Facing Revenue Dip in 2023

Las Vegas casinos could face a slowdown next year, with analysts predicting that the current gaming revenue boom will come to an end in 2023. Fitch Ratings Service analyst Colin Mansfield has predicted that Las Vegas gaming revenue could fall by as much as 10% next year as part of a broader slowdown in the US economy. Las Vegas casinos have bounced…

Land-based ・ 16 September 2022

EJINSIGHT

Who wants to bid for Macao casino licences? EJINSIGHT

The Macao SAR government has set a deadline of September 14 for gambling operators to submit bids for new licences, due to begin at the start of 2023. The licences of the six current operators, three U.S.-owned, will expire at the end of December. The Covid pandemic and the resultant restrictions on travel have caused the worst three years in the…

Covid ・ 25 August 2022

Yogonet

Macau casinos reopen at 50% staff levels after two-week shutdown, but recovery prospects remain bleak

Macau casinos reopened Saturday after a nearly two-week shutdown mandated in an effort to stop the spread of Covid-19. However, without tourists, business was slow for the gaming venues, and analysts have estimated the closures could cost the casinos $1 billion. In response, the government said it intends to distribute $1.24 billion to those…

Covid ・ 25 July 2022

Review Journal

Macao casinos to close as COVID-19 outbreak widens

Macao will shut almost all businesses, including casinos, for a week starting Monday as a COVID-19 outbreak in the Asian gambling hub showed few signs of abating, Macao Daily reported. Essential business operations including supermarkets and pharmacies will remain open, the report cited the city's officials as saying at a press briefing Saturday.…

Covid ・ 10 July 2022

RELATED LOCATIONS

State

Nevada

City

Las Vegas, USA

Country

Macau

Reuters

Casino SPAC is for hardened gamblers only

HONG KONG, June 7 (Reuters Breakingviews) - Shareholders in blank-cheque firm 26 Capital (ADER.O) are getting more than they bargained for. It agreed in October to buy casino Okada Manila, but a long-running legal battle over the resort turned physical when its ousted boss seized the property last week. If that doesn't scupper the planned merger,…

Covid ・ 07 June 2022

Vegas Slots Online

Casinos Must Ready for Omicron COVID-19 Strain

Across the globe, the Omicron variant of COVID-19 has caused concern, and casinos must ready themselves as a decline in stock prices potentially foreshadows issues further down the line. [Image: Shutterstock.com] The COVID-19 pandemic has created chaos and disruption for businesses across the globe - not least for the casino industry. In 2020, US…

Covid ・ 29 November 2021