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COVID-zero policy led Wynn Macau to $163 million revenue loss in 3Q22
During the past 3 months until September 30th, 2022, Wynn Resorts, a leading developer of high quality hotels and casinos, saw revenue decreased by 162,7,0 million dollars, across Wynn Macau and Wynn Palace, Macau-based branches of the company, thanks to COVID-zero policy.
Strong COVID-19 restrictions:
This revenue loss is a lot bigger than in the previous year (95,4 million dollars), because of mainland China’s COVID-zero policy that includes border restrictions and lockdowns. This has made for poor tourism across China, with a stagnant number of annual tourists . However, it’s slightly better from the 185,3 million dollar loss in 2Q22.
According to Wynn Resorts 3Q22 financial results that came on Thursday, November 10th, 2022, Wynn Macau …
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