Wynn Macau eyes big investments pending government approval
During a recent conference call, Wynn Resorts' CFO, Julie Cameron-Doe, talked about the company's financial strategies and future investment plans. By the end of 2025,...
Macau faces negative effects of the recent lockdown
In accordance with the Bureau of Gambling Inspection and Coordination, Macau earned 398 million MOP dollars last month, which was the worst monthly indicator of the city from the start of the lockdown
This introduced an almost 95% annual decline in Gross gaming revenue, dropping from 8.44 billion mop dollars.
In June, the city reported more than two billion mop dollars, which is 62% less in comparison with the same period in 2021, while in May and April the city lost 68% of GGR.
As a matter of fact during these years Macau had monthly (except February) double-digit GGR decreases in comparison with last year.
In many ways, these outcomes can be explained by the fact that Macau is implementing the Chinese policy of zero spread of coronavirus. The outbreak which began in the middle of last year, led to another quarantine in Macau, therefore many casinos had to close.
Although this lockdown was only for 2 weeks, since the casinos opened by the end of June, the rest of restrictions were not removed, and they had negative financial effects on Macau in general.
The outcome of these restrictions was that traveling from Macau to China became difficult, and the amount of clients who visit casino dropped.
Beside the casino industry in the city still struggles to overcome the current events of the last 2 years.
Three years ago, way before the outbreak of Coronavirus, Macau reported a GGR exceeding twenty billion Mop dollars every month, but since the beginning of the virus, Macau was not able to overcome the ten billion MOP dollars.
Fake casino chips scam in Macau
Five people were arrested after fake casino chips were discovered at a Macau casino. They were accused of attempting to use fake chips in an initiative to scam the...
