🎰 Macau's casino takings almost wiped out by pandemic impact

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Why are casinos OK with that? By David PiersonStaff Writer. Feb. 10, Swinging luck in one's favor is paramount in the world's gambling mecca, seedy spas are shuttered, unheard of even during the worst typhoons.


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March 2, am ET. Share. Text. The world's largest gambling hub just suffered its worst revenue drop on record. The bad luck could run for a while yet.


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March 2, am ET. Share. Text. The world's largest gambling hub just suffered its worst revenue drop on record. The bad luck could run for a while yet.


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WONG wsj. While casinos can reduce some of their costs during the current downturn, they may not be able to fully offset the revenue plunge. Sponsored Offers. That means they will likely be just barely profitable this quarter, and some may even dip into red. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services Dow Jones. All Rights Reserved. The high rollers—mostly wealthy businessmen from mainland China—may come back sooner than casual gamblers, provided their businesses recover from the hit. Navigating the Coronavirus A five-part Heard on the Street series about the market and economic impact of the epidemic. Share Facebook Twitter Permalink.

The bad luck could run for a while yet. Many of them hold business visas, which are subject to fewer restrictions, while casual gamblers may also be more cautious in their travel plans. Join the Conversation.

Skip to Main Content Skip to Search. How long their pain will last depends not just on when the coronavirus subsides, but also on how strongly China stimulates its economy. The bad days will likely continue. Most Popular Videos. Investors have started to price in that risk: American casino stocks have reversed earlier relative gains versus their Macau subsidiaries. Dow Jones, a News Corp company. Even though the casinos reopened more than a week ago, visits to Macau, the only place in China where casino gambling is allowed, remain much lower than normal as various travel restrictions remain in place. Apart from the problem of visa restrictions, many high-rollers from mainland China may also see their income hit by the business disruptions caused by the outbreak. Many conferences have been cancelled, while casinos will likely see fewer visitors, too. Meanwhile, the U.