According to a Bloomberg survey of analyst estimates, Macau casinos will see a combined EBITDA loss of around $823m for the three months ended 30 Sep.
Participants in the survey, which involved seven brokerages, estimated that Macau’s seven casino operators will most likely report negative EBITDA for Q3.
The largest year-on-year decline in company EBITDA is expected to be reported by SJM Holdings, with the operator expected to report a fall in the region of 171%. Meanwhile, in terms of property EBITDA, MGM China and Wynn Macau are expected to see drops of 150% and 144%, respectively.
For six months, revenue for Macau’s casino industry has fallen 90% from 2019 levels as the region struggles to overcome limits imposed by the COVID-19 pandemic.
Although a travel bubble has been created to allow visitors to reach Macau, visitor arrivals during the Golden Week holiday were still down 84% year-on-year.
Earlier this week, Macau’s Government Tourism Office predicted a 90% decline in visitor numbers for the entire of 2020. The region has already seen an 87% drop in visitors for the first eight months of the year.