Casino operators were forced to shutter their properties for safety measures and due to flooding and power blackouts. Hong Kong authorities raised a Number 10 hurricane signal as the typhoon’s powerful gales shattered windows on taller buildings and uprooted trees.
According to initial estimates, Hato would cost more than US$ 200 million to Macau’s economy. Casinos are also expected to lose big as a
Macau has entered its first year of casino revenue recovery after seeing its casino industry experience its worst downfall in the period between 2014 and 2016.
A crackdown on corruption and gambling, launched by Chinese President Xi Jinping a few years ago, saw high rollers from Mainland China withdraw from Macau and its casinos to keep a rather low profile. As a result, the city’s casino revenue saw double-digit monthly drops for two straight years.
It is yet to be seen how much casinos will lose as a consequence from Hato, but it is believed that operators have been hit severely. As mentioned above, they eye recovery of their businesses with big discounts on different services offered at the integrated resorts.
According to latest media reports, some of the complexes have resumed operations, although both power and water supplies are yet to be stabilized.
Source: GMB / Casino News Daily
