Tag: losses

Macau casinos see deepening losses as virus slams China travel

By Farah Master

HONG KONG (Reuters) – Casinos in the world’s biggest gambling hub Macau are staring at heavy losses for the second quarter, with “not much hope” for a near-term recovery as a resurgence in coronavirus cases muddies the outlook for when China will reinstate travel visas.

Visitors from greater China make up for over 90% of Macau’s tourists, but given travel has dried up amid the health crisis, Morgan Stanley warns casinos in the special administrative region could rack up losses of $1 billion over April to June.

The Las Vegas Sands unit, Sands China, said it flipped

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