This week’s gambling news focuses on the Macau casino lockdown from the latest Coronavirus outbreak. Casinos there just reopened, but travel restrictions have already cost them millions, and will probably cost them billions, and is already costing Las Vegas gaming companies like MGM Resorts, Wynn Resorts, & Las Vegas Sands millions!
When it comes to gambling revenue, Macau china is the world leader. In fact, Macau generates three times as much money as Las Vegas… at least, it used to. Wynn, MGM, and the Las Vegas Sands all have casinos in Macau. Actually these American companies have a combined 11 casinos in the city. All of which have been trapped in a Macau casino lockdown for the past two weeks due to the latest COVID outbreak over there.
While casinos in Macau did reopen this past weekend, it’s of little comfort. Travel restrictions have been in place since March. These same travel restrictions will be in place for the next several months. So even if the casinos are open, no one is visiting. No one can visit. And no one will be able to visit, probably until at least this fall.
As a result of the Macau casino lockdown profits are down nearly 50% for the year, and Wynn, MGM, and the Las Vegas Sands are losing their asses! I mean, these companies are currently experiencing economic challenges due to falling stock prices and a total lack of revenue! Complicating this issue even more it’s time to renew those Macau gaming licenses, which means a commitment of millions of dollars and at least 10 years. And that means that, in some cases, these casinos are going to have to borrow money from their American parent companies.
The shutdown and these travel restrictions will end up costing Macau billions and billions of dollars, while simultaneously costing US gaming companies millions of dollars every day! Experts say it will be years before Macau ever recovers from all of this, but in the meantime the government there did just raise the tax on gambling revenue to 40% because, ya know, timing is everything!
This week we have two new game reviews to share with you, both of which keep us in China! Starting with the Mr. Macau online slot, a five reel 20 payline game from our friends at Betsoft! It features scatters, sticky wilds, free spins, wild substitutions, and Mr.Macau’s very own signature wild boost! Next up is the Macau High Roller, a five real game with 10 paylines from the good folks at iSoftBet! This game comes with bonus spins and a bonus round, scatter symbols, and a high roller lounge where players can bet big and win big! Both of these reviews are available right now when you visit our YouTube channel!
You can read more stories about the Macau casino lockdown, like “The Devastation of Macau Casinos” and “Macau Casino Closure Fallout for America“, right here on our website.