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Media & Entertainment

Macao casino operators swimming in red ink due to COVID

Customers dried up but operation costs remain high; six companies all have net losses

HONG KONG -- Casino operators in Macao are drowning in a sea of red ink as the coronavirus pandemic decimates sales while operating costs remain high.

The six companies authorized to operate gambling in Macao all reported a net loss for the first half of this year, raising concerns about the future of the industry, the lifeblood of the Chinese territory's economy.

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