Wynn Macau burning over US$2 million a day

Some analysts believe Wynn Macau will be the first casino to recover from the pandemic.
Some analysts believe Wynn Macau will be the first casino to recover from the pandemic.

In spite losing money over the last two months due to travel restrictions, the company says it has not reduced staff.

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.

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.

He said: “Obviously 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.”

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.

Macau casinos stocks jumped quickly after travel restrictions with Guangdong province were lifted and some financial analysts saying Wynn Resorts could be the first to see a recovery.

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