Melco Resorts expects “loss-making days” after re-opening

Melco continues to lead as one of the most sustainable companies in China
Melco continues to lead as one of the most sustainable companies in China

“I think our revenues are going to be impacted in a great way”, Melco’s COO of Macau Resorts, David Sisk said.

Macau.- Melco Resorts & Entertainment has said that it expects some loss making days despite re-opening its casinos at City of Dreams and Studio City as the Coronavirus outbreak continues affecting tourism.

Melco’s COO of Macau Resorts, David Sisk, talked about the impact of the 15-day closure period would have on gaming revenues moving forwards.

“I think our revenues are going to be impacted in a great way. Obviously we’re going to try to minimize our costs as much as we possibly can, but we are going to be challenged and obviously, we’re not the only one out there. It’s going to be challenging for the next four to six months,” he said.

Even though some casinos re-opened on Thursday, visitor numbers remain low due to the ongoing Coronavirus threat.

“As we opened up at Studio City [on Thursday], we had about 10 customers that came in. As we opened up City of Dreams there were maybe 10 to 12 customers there,” Sisk revealed.

Chairman and CEO Lawrence Ho said that he expects Macau to be “very, very quiet for quite a long time.”

One of the main reasons for the drop in visitor numbers is the decision three weeks ago by authorities in mainland China to stop issuing individual travel visas for mainland residents visiting Macau, as part of measures to contain the Coronavirus outbreak.

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