Macau Casinos Lost $823M in Third Quarter 2020
Macau Casino Total Loss for Q3 2020 in terms of Profit Before All Costs ( EBITDA) will be about $823 million. This information was provided by a report of Bloomberg analysts.
They conducted a survey in which seven brokerage companies took part. As a result, it was estimated that the seven Macau casino operators were likely to report negative EBITDA for the period ending September 30.
SJM Holdings is expected to report the largest year-on-year decline. According to preliminary data, the operator will report a drop in profits by 171%. The results of MGM China and Wynn Macau, according to research, will fall by 150% and 144% respectively.
It is worth noting that in the first six months, Macau's casino industry revenues fell by 90% compared to 2019 levels. The region is struggling to overcome the restrictions imposed due to the COVID-19 pandemic, but so far the results have been disappointing. In the first eight months of this year, Macau recorded a decrease in the number of visitors by 87%.
Recall that the revenues of the UK gambling sectorcontinue to plummet.