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Travel & Leisure

MGM China reaches for $750m loan as Macao's casinos bleed cash

Rival operators in gambling hub desperate for help as revenue plunges

Macao's MGM Cotai casino resort was sealed for several days with hundreds of people inside after a dealer was found to be infected with COVID.    © Reuters

HONG KONG -- Macao's MGM China said Friday it has reached out for a $750 million loan from its U.S.-based parent as its COVID-hit gaming business bleeds cash, after several rival casino operators scrambled for lifelines.

The operator of the MGM Cotai casino resort -- which was sealed off for several days this month with 1,500 people inside after a dealer contracted the virus -- has been racking up losses as strict COVID rules hammered visitor numbers to the gaming hub over the past two years.

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