Visitors walk near the Eiffel Tower attraction at the Parisian Macao casino resort in Macau on Jan 17, 2019.
The Las Vegas Sands unit, Sands China, said it flipped into the red with a US$549 million loss, setting the stage for a dire quarter for Macau casinos that have been operating with almost no income and no visitors since February. A Reuters calculation shows Macau casino operators came into 2020 with a cumulative cash position of just over US$12 billion, providing a solid buffer to survive the coming months.
Four casino operators have issued or said they plan to issue new debt, worth a total US$4.2 billion, in the past two months, highlighting the challenges they face even as they cut costs and streamline operations.
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