In COVID-19 shut down, Macao casinos take billion-dollar hit holding out for new licences


Source: channelnewsasia.com channelnewsasia.com

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HONG KONG: In the glitzy dealing rooms of Macao's silenced casinos, the house is down billions of dollars, but can't afford to fold its hand in the world's biggest gambling game. A COVID-19 outbreak has meant full-scale closure for the former Portuguese colony's six casinos - the only places in China where gambling is legal. Even prior to their closure on Jul 11, analysts estimated the casinos were burning through some US$600 million each month because of COVID restrictions. Gambling centres around the world like Las Vegas, a sixth of Macao's size in revenue, are cranking up business as years...