Chips are down at Macau casinos amid HK protests & slowdown
Source: SCMP
https://www.scmp.com/business/companies ... s-slowdown
US investment bank Jefferies estimates the gross gaming revenue in Macau will dive by 10-13 percent year-on-year.
The total spending excluding gaming expenses of visitors to Macau has dropped by 17.2 percent year-on-year to 15.2 billion patacas in the third quarter, said the Statistics and Census Service of Macau.
Macau's six casino licenses, held by SJM Holdings (0880), Wynn Macau (1128), Galaxy Entertainment (0027), MGM China (2282), Sands China (1928) and Melco International Development's (0200) spin-off Melco Resorts & Entertainment, are set to expire between 2020 and 2022.
Gaming revenues fell 8.5 percent year-on-year to 22.88 billion patacas (HK$22.21 billion) in November.
High rollers outside Guangdong province will delay their trips to Macau considering the situation in neighboring Hong Kong, while the inauguration ceremony of the new Chief Executive of Macau this month will also put off visitors.
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