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Reuters
Reuters
Business
By Farah Master

In COVID closedown, Macau casinos take billion-dollar hit holding out for new licences

FILE PHOTO: Shutters are being opened at the Grand Lisboa Casino after gambling recommenced at midnight, in Macau, China February 20, 2020. REUTERS/Aleksander Solum/File Photo

In the glitzy dealing rooms of Macau's silenced casinos, the house is down billions of dollars, but can't afford to fold its hand in the world's biggest gambling game.

A COVID-19 outbreak has meant full-scale closure for the former Portuguese colony's six casinos - the only places in China where gambling is legal. Even prior to their closure on July 11, analysts estimated the casinos were burning through some $600 million each month because of COVID restrictions.

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