In COVID closedown, Macau 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 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...