Macau’s Casino Operators Are Betting On A Slow Recovery From Covid-19

Kelley stated concessions for Macau gaming licenses are set to be renewed in December, with handful of surprises relative to exiting terms, which would be a “material positive” for casino operators there. In the company’s second quarter, income from Macau casinos totaled $374 million, or about 36% of total income. With the rise of Covid-19 in early 2020, China started discouraging people today from traveling overseas in a bid to stay away from virus transmission and a capital outflow. Despite the fact that Macau reopened its border with the mainland in August 2020, its gaming income declined by 79% to … Read more…