Wynn Macau, one of the six concessionaires in the world’s biggest gambling hub , posted its worst quarterly performance on record as the coronavirus pandemic choked the primary engine of the local economy. The operator of Wynn Palace and Wynn Macau casinos recorded a net loss of US$351.6 million in the three months through June 30, versus a US$168.6 million profit a year earlier, it said in an exchange filing on Wednesday. Revenue slumped 98 per cent to US$20.6 million. The setback is unmatched since the casino operator went public in Hong Kong in October 2009, according to data compiled by Bloomberg, showing how the industry is struggling to rebound from travel restrictions that kept high rollers away from Macau. The group’s casino operations have since been fully restored. However, certain public health safeguards such as health screening, quarantines, and Covid-19 test requirements, remain in effect at the present time, the company said. “We are currently unable to determine when these measures will be lifted.” Macau’s July gambling revenue falls by 94.5 per cent as visa ban amid Covid-19 pandemic The city government ordered gambling venues to shut for 15 days in February to contain the virus. Efforts are being made to ease movements between Macau and mainland China, whose gamblers are sought after at the city’s betting tables. Macau’s gross gaming revenue fell 94.5 per cent to 1.34 billion patacas (US$168 million) in July from a year earlier, the Gaming Inspection & Coordination Bureau said, a fourth month of 90 per cent-plus contraction. The economy, which derives most of its revenue from gaming taxes, shrank by 48.7 per cent in the first quarter. The group also reflected on its rotten luck last quarter. Its VIP table games win as a percentage of turnover was minus 1.73 per cent at its Wynn Palace property, versus 3.02 per cent win rate in the same period in 2019. At Wynn Macau resort, the rate was minus 2 per cent, versus 3.3 per cent previously. An almost US$15 million deficit in casino operating revenues suggests gamblers walked away with that much of winnings betting against the house. 1MDB scandal: Macau disputes Malaysia’s claim Jho Low is hiding out in city The outlook may be brightening as China gradually eases travel restrictions. Guangdong province lifted a 14-day quarantine requirement for visitors crossing the Macau-Guangdong border from July 15. Visitors must hold “green” health codes and have tested negative for Covid-19 for seven days before crossing. Non-tourist visas will also be revived for the entire country on August 12, the Macau Daily Times reported on July 31. “In Macau, the authorities have begun to gradually and thoughtfully ease some visitation restrictions, and we are confident the market will benefit from the return of the Chinese consumer as we move through the back half of 2020,” said Matt Maddox, CEO of Wynn Resorts, its controlling shareholder.