In spite losing money over the last two months due to travel restrictions, the company says it has not reduced staff.<\/p>\n\n\n\n\n\n\n\n
Macau.- Wynn Macau non-executive chairman Allan Zeman says the company has been burning about US$2 million per day over the past two months that travel restrictions have been in place.<\/p>\n\n\n\n
He said in an interview with CNBC that the company had not reduced staff in spite of the financial loses the pandemic and travel restrictions had caused.<\/p>\n\n\n\n
He said: \u201cObviously business has not been good because the borders have been closed between Hong Kong, China. Though we have maintained our staff throughout the last two months.\u201d<\/p>\n\n\n\n
The executive said he was positive about the boost tourism and the gaming industry may receive now some neighbouring cities in mainland China had arranged a health code system for travellers.<\/p>\n\n\n\n
Macau casinos stocks jumped quickly<\/a><\/em><\/strong> after travel restrictions with Guangdong province were lifted and some financial analysts saying Wynn Resorts could be the first <\/a><\/strong><\/em>to see a recovery.<\/p>\n","protected":false},"excerpt":{"rendered":" In spite losing money over the last two months due to travel restrictions, the company says it has not reduced staff.<\/p>\n","protected":false},"author":2,"featured_media":8191,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Wynn Macau has incurred daily operational losses of US$2 million over the past two months due to travel restrictions, yet has maintained its full staff complement. Non-executive chairman Allan Zeman expressed optimism for a market recovery following the lifting of travel restrictions with Guangdong province and the implementation of a health code system, which has already spurred a rebound in Macau casino stocks.","focusai_entities":"Wynn Macau, Allan Zeman, CNBC, Wynn Resorts","focusai_location":"Macau, Hong Kong, China, Guangdong","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Outlook","query":"What is the projected GGR recovery trajectory for the Macau gaming market, specifically for integrated resorts like Wynn Macau, considering the current operational burn rate, eased travel restrictions, and the potential for further policy adjustments from mainland China?"},{"label":"Operational Cost Management","query":"How does Wynn Macau's strategy of maintaining full staff complement despite significant operational losses impact its long-term cost structure and competitive positioning for market share recapture during the anticipated recovery phase?"}],"footnotes":""},"categories":[28,16338],"tags":[29,257,20777],"class_list":["post-8189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","tag-casino","tag-macau","tag-wynn-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8189"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8189\/revisions"}],"predecessor-version":[{"id":8206,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8189\/revisions\/8206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8191"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}