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.

Richard "Bose" Bosworth is the main partner and CEO of the young company JC Hospitality, LLC ...
Position: Author of analytical materials Higher education Age: 24 years old Experience: more than 5 years Brief biography: Born on March 24, 1997 in the city of Volkhov, Leningrad Region. In 2015, he successfully graduated from a comprehensive school, after which he entered the Faculty of Mechanics and Mathematics...
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