BloombergCasinos in Macau, the world’s biggest gambling hub, reported a record drop in gaming revenue as they grappled with the cost of closing down for 15 days to help contain the COVID-19 outbreak. Gross gaming revenue was 3.1 billion patacas (US$386.5 million) last month, down 87.8 percent from a year earlier, according to data from the Macau Gaming Inspection & Coordination Bureau. The closure only the second such instance after a typhoon in 2018 forced a 33-hour shutdown. Casinos are about to take “an extremely bumpy ride” this year, according to a Feb. 25 note by D.S. Kim estimated that gaming revenue would drop 24 percent and industry earnings before interest, tax, depreciation and amortization would fall 30 percent this year.

Source: Taipei Times March 01, 2020 15:56 UTC