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Casino stocks drop as typhoon shutdown tipped to cost up to 1.5 billion patacas

2018-09-18 07:13
BY admin
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Local casino stocks retreated yesterday after Typhoon Mangkhut forced a 33-hour shutdown of the world’s biggest gambling hub, a halt that’s estimated to cost the city’s six gaming operators as much as 1.5 billion patacas in revenue.

Nearly all local casinos reopened at 8 a.m. yesterday, after an informal agreement between the government and the six operators shuttered their doors at 11 p.m. on Saturday as the typhoon was approaching.

According to the website of the Gaming Inspection and Coordination Bureau (DICJ), the six operators own a total of 41 casinos. 

This sign announces the imminent shutdown of a casino owned by Galaxy Entertainment Group (GEG) due to Typhoon Mangkhut on Saturday. Photo: MPDG
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