In COVID Closedown, Macau Casinos Take Billion-dollar Hit Holding Out For New Licences


Source: ibtimes.com ibtimes.com

Key Topics in this News Article:

News Snapshot:

In the glitzy dealing rooms of Macau'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 July 11, analysts estimated the casinos were burning through some $600 million each month because of COVID restrictions. Gambling centres around the world like Las Vegas, a sixth of Macau's size in revenue, are cranking up business as years of COVID...