Reduced stock prices and $160 million losses: the consequences of Mangkhut for Macau operators
Gambling companies, which resumed work on Monday after a 33-hour break in work, reported that they suffered significant losses.
According to Union Gaming Securities Asia Ltd, operators lost about $160 million due to being forced to close during the hurricane.
On Saturday, September 15, the Macau government appealed to the operators to shut down all casino activities for the time of the cataclysm.
However, the typhoon affected not only the GAG Macau in September - the value of securities of casino operators changed for the worse. So, the shares of Galaxy fell in price by 4.6%, SJM - by 3.9%, and Wynn Macau - by 3.2%.
At the same time, analysts say, it will take no more than a month to restore prices.
At the moment, the Macau gambling regulator is discussing the adoption of possible security measures in case of cataclysms.
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