Daily news

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    Casino operator Wynn Resorts has reported a net loss of $1.04bn for the first half of the year, after the novel coronavirus (Covid-19) pandemic forced the temporary closure of its venues in the US and Macau.

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    Gaming revenue in Macau improved month-on-month in July, but remained 94.5% below the same month of 2019 at $1.34bn (£127.5m/€141.9m/$167.1m).

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    Macau casino operator SJM Holdings has admitted that gross gaming revenue, as well as non-gaming amenities will be negatively affected by novel coronavirus “for an indefinite period”, after reporting an HK$1.41bn loss for the first half of 2020.

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    Land-based gaming giant Las Vegas Sands saw revenue fall 73.1% year-on-year for the six months ended 30 June, 2020 after Q2 revenue collapsed to almost zero due to the novel coronavirus (Covid-19) pandemic.

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    China’s Guangdong province has announced that a mandatory 14-day quarantine for all people entering from Macau will be lifted this week, as restrictions designed to prevent transmission of novel coronavirus (Covid-19) are eased.

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    Macau’s gaming revenue sunk to yet another new low of MOP716m (£72.2m/€79.8m/$89.7m) in June, down 97.0% year-on-year, as the effects of the novel coronavirus (Covid-19) pandemic continues to devastate the territory’s largest industry.

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    Macau casino junket operator the SunCity Group saw revenue for 2019 decline to RMB611.8m (£68.0m/€76.4m/$86.4m), while losses increased to RMB1.50bn due to another year of rising financial costs.

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    Disruption caused by novel coronavirus (Covid-19) has badly hit Las Vegas Sands’ Sands China subsidiary, with the business revealing that revenue for April plummeted 98.7% year-on-year to just $9m in April.

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    Casinos in Macau took in revenue of MOP1.76bn in May, more than double revenue for April but down 93.2% year-on-year, as the novel coronavirus (Covid-19) pandemic continued to have a major impact on business.

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    Casino operator Wynn Resorts has put a net loss of $402.0m in the first quarter primarily down to the temporary closure of its sites in the US and Macau due to the novel coronavirus (Covid-19) pandemic.

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    Revenue from Macau’s casinos declined further in April, with operators taking in just MOP754m (£76.0m/€86.6m/$95.1m), a record low and 96.8% below takings from April 2019.

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    MGM Resorts’ revenue fell 29.1% to $2.25bn for the first quarter of 2019 due to the effects of the novel coronavirus (Covid-19), but the operator’s profits skyrocketed due to sales of two of its properties.

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    Macao’s head of government, chief executive Ho Iat Seng has criticised the country’s “excessive dependence” upon the gambling industry, which he said meant the special administrative region was especially hard-hit by the novel coronavirus (Covid-19) outbreak.

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    The temporary suspension of casino operations in the Chinese autonomous region of Macau in an attempt to halt the spread of novel coronavirus has led to gross gaming revenue plummeting in February.

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    MGM Resorts International has announced that its chairman and chief executive officer Jim Murren is to step down, bringing to an end almost 12 years in charge of the operator. 

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    Gaming revenue in Macau dropped in October by 3.2% year-on-year despite the Golden Week holiday, according to data from the Gaming Inspection & Coordination Bureau.

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    The number of people gambling in Macau dipped to a record low in 2019, according to a survey commissioned by the Social Welfare Bureau, with the number of people identifying as problem gamblers also falling sharply.

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    A 0.8% fall in gaming services exports helped to push Macau into a technical recession in the second quarter of 2019, new figures from the gambling enclave’s Statistics and Census Service have revealed.

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    Caesars CFO hints at “softening” demand in US gambling mecca

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    Macau has posted lower-than-expected gross gaming revenue for June

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