[Business] - Macau casino stocks soar as resumption of mainland China tourist visas promises to boost battered gaming revenues | South China Morning Post
@Reuters: Pandemic-hit Macau casinos look to play the long game with cash pile https://t.co/b5ZYPRCCHd by @farahmaster @murdochsj https://t.co/ERBQXMnWSZ
Pandemic-hit Macau casinos look to play the long game with cash pile
This is the best tl;dr I could make, original reduced by 79%. (I'm a bot)
HONG KONG - Light on debt and cash rich, Macau's Galaxy Entertainment is bleeding $3 million daily in operating cost as the coronavirus crisis upends its casino business. A Reuters calculation shows the Macau casino operators came into 2020 with a cumulative cash position of just over $12 billion, providing a solid buffer to tide over the lean times. While Sands China, MGM China, Melco Resorts and Wynn Macau have lower buffers than Galaxy, they can still go without revenues for around 6-24 months, say analysts. Although Macau's casinos have reopened after a two-week suspension in February, revenues have plummeted between 80%-90%, hit by travel curbs and health regulations. Daily visitors to Macau number around 200 versus over 100,000 a year earlier. "All of the deals that we have seen in Asia have been in sectors where there has been visibility on what the future will look like, we don't even know when people are going to be able to go to Macau again."
Summary Source | FAQ | Feedback | Topkeywords: Macau#1year#2over#3revenue#4Galaxy#5 Post found in /worldnews. NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
@AFP: Macau's gaming revenue was virtually wiped out in April as casinos suffered their worst month on record owing to measures put in place to prevent the spread of #coronavirus in the tourist-dependent city https://t.co/qzAFlQu2jB
No more than half of Macau's gaming tables allowed to operate, players limited to four per table once casinos re-open: Macau government - Inside Asian Gaming
@nytimesbusiness: Macau’s gross gaming revenue totaled $36.5 billion last year, about six times that of the Las Vegas Strip. Now its casinos are being asked to shut to combat the coronavirus. https://t.co/1mdRtYbDLw
@nytimesbusiness: Macau’s gross gaming revenue totaled $36.5 billion last year, about six times that of the Las Vegas Strip. Now its casinos are being asked to shut to combat the coronavirus. https://t.co/C1697AMRFK
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![[Business] - Macau casinos end worst year on record as gaming revenue sinks 79 per cent, outlook remains bleak | South China Morning Post](https://b.thumbs.redditmedia.com/hTQ80HBX_dpQ5UUlWQJTDS_x-XEAGYhywvBhWEUNB4o.jpg "[Business] - Macau casinos end worst year on record as gaming revenue sinks 79 per cent, outlook remains bleak | South China Morning Post")
![[Business] - Macau casino stocks soar as resumption of mainland China tourist visas promises to boost battered gaming revenues](https://b.thumbs.redditmedia.com/-dxq18X8glbesMi0xbvCTULe7xZWRtLainnb4J0ljDA.jpg "[Business] - Macau casino stocks soar as resumption of mainland China tourist visas promises to boost battered gaming revenues")
