The Macau government has published long-awaited guidelines for the re-tendering process for its six casino concessions, though the broad brush outline is still short on specifics, industry observers say.
Macau began another round of mass testing on Monday as the number of Covid cases continued to rise, topping 900.
Macau’s operators are reportedly asking staff to take various forms of leave after being told to reduce the number of employees at work by 90 percent.
All of Macau’s six operators are likely to post EBITDA losses in 2Q22 after gross gambling revenue for June hit its lowest level in 21 months, says J.P. Morgan.
Macau has lifted the requirement for all casino workers to have an NAT test every two days due to overcrowding at testing stations.
Macau Legend Development remained optimistic for the future of its casino operations despite announcing a loss $152 million USD for the 2021 Financial Year.
Macau’s casino regulator said measures requiring all staff and guests to have a negative Covid test to enter the premises will go into effect Friday, as cases in the city continue to rise.
Macau’s average hotel occupancy declined 27.9 percentage points in May to 34.2 percent, despite the Golden Week holiday in the month.
Macau casino operator stocks surged on Tuesday after China announced its first major easing in border restrictions since the pandemic began.
The number of Covid cases in Macau has risen to 357 and the gaming regulator has urged casinos to restrict the movement of people and to increase their epidemic control measures.