Six Macau Casinos Facing $25bn Debt by the End of 2022
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Six Macau casinos are looking at $25bn in combined debt if China’s travel restrictions aren't eased.
Six casinos in Macau are facing $25bn net debt by the end of the year and $27bn by 2024. China's stringent travel restrictions have slowed Macao's economic recovery since the height of COVID-induced lockdown.
Macau's casinos are struggling with the effects of China's restrictions. The situation could get worse if China’s restrictions continue into late 2023. Macau”s net debt could rise another US$2 billion, to US $27 billion by end-2023, according to Morgan Stanley.
Six Macau Casinos Facing $25bn Debt by the End of 2022. Every company except SJM Holdings is positioned to survive for over two years. Macao reported 655,505 visitors in February this year, down from 3.5m in 2019. 93% of early 2022 travelers came from mainland China.
