Looming shutdown for Macau Golden Group

In Macau and local junket operator, Macau Golden Group, has reportedly announced that it will be temporarily closing the trio of VIP gaming lounges it runs within the iconic Hotel Lisboa from the end of the month.

According to a report from Inside Asian Gaming, the firm detailed that its Golden Club, Grand Hall and Golden Hall facilities will be shuttered from the evening of July 30 with their younger employees being shifted to one of the remaining five gaming lounges it operates inside the neighbouring Casino Grand Lisboa from SJM Holdings Limited.

Adjacent alternatives:

The source reported that Macau Gaming Group has thanked patrons for their support before explaining that all outstanding deposits and commissions will be able to be collected via the high-roller venues it runs on the ninth, tenth, 36th, 38th and 39th floors of the 13-year-old Casino Grand Lisboa.

Coronavirus consequences:

The impact of the coronavirus pandemic alongside a raft of resultant travel and social distancing restrictions have been hard on casinos in Macau with aggregated gross gaming revenues for the six months through to the end of June standing some 77.4% lower year-on-year at just over $4.22 billion. Last month produced some particularly stark results as the city’s 39 gambling venues saw their combined takings crash by almost 97% to approximately $89.69 million following comparative 93.2%, 96.8% and 79.7% drops for May, April and March respectively.

Isolation instructions:

The future prospects for casinos in Macau moreover do not look immediately bright as a two-week quarantine requirement remains in place for anyone travelling to or from nearby Hong Kong while mainland Chinese visitors are still being obligated to undergo a fortnight lockdown upon returning home.