resorts casino epic lounge(Image: Elizabeth Page Brumley/Las Vegas Review-Journal)In a letter to employees, Gaughan explains the furloughs are indefinite. Macau is too dependent on gaming money, putting its economy at risk, says Fitch. South Point Hotel, Casino & Spa in Las Vegas is furloughing its 2,200 workers effective May 3, owner Michael Gaughan saying the decision is in their best interests. seminole casino molly hatchetBut this year’s decline will likely be jaw-dropping.“Fitch projects Macau’s economy will shrink for a second year by 24% in 2020, based on our assumption for a drop in gross gaming revenue of roughly 40%, after a 4.7% contraction in 2019,” said the ratings agency. Only New York has more coronavirus cases.New Jersey Gov. 806 positive COVID-19 tests as of Tuesday morning, the disease cited for 4,377 deaths in the Garden State. roulette minimum bet

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blackjack online msnAs gaming cash dries up and visitation to the Special Administrative Region (SAR) remains scant, Macau is vulnerable to significant economic turbulence due to its dependence on casino revenue, says Fitch Ratings. South Point Hotel, Casino & Spa in Las Vegas is furloughing its 2,200 workers effective May 3, owner Michael Gaughan saying the decision is in their best interests. Macau is one of the world’s biggest gaming tourism hubs.”Gaming accounts for more than half of the peninsula’s economic output and 22 percent of employment. blackjack online moneyWith license renewal discussions expected to commence later this year, operators are unlikely to lay off workers, although many are bleeding millions of dollars per day just to keep casinos open for a sparse number of gamblers.Some Good NewsFitch echoes the sentiment that Macau GGR could bounce back next year, while highlighting the SAR’s strong fiscal position, which includes no debt.“Fitch expects fiscal buffers to remain considerable in the medium term. You will receive more money from both the state and federal government than what you are currently receiving from South Point.”South Point plans to rehire its workforce once possible, though Gaughan admitted to his staff that it “may take several months to get bacWith license renewal discussions expected to commence later this year, operators are unlikely to lay off workers, although many are bleeding millions of dollars per day just to keep casinos open for a sparse number of gamblers.Some Good NewsFitch echoes the sentiment that Macau GGR could bounce back next year, while highlighting the SAR’s strong fiscal position, which includes no debt.“Fitch expects fiscal buffers to remain considerable in the medium term. 500 nations free slot games

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resorts online casino no deposit bonusAs gaming cash dries up and visitation to the Special Administrative Region (SAR) remains scant, Macau is vulnerable to significant economic turbulence due to its dependence on casino revenue, says Fitch Ratings. South Point Hotel, Casino & Spa in Las Vegas is furloughing its 2,200 workers effective May 3, owner Michael Gaughan saying the decision is in their best interests. Macau is too dependent on gaming money, putting its economy at risk, says Fitch. Only New York has more coronavirus cases.New Jersey Gov. Macau remains the only Fitch-rated show close is the nearest casinoovereign without any government debt, whereas general government debt for the ‘AA’ median stood at 40% of GDP in 2019,” said the research firm.While the government there is resisting a second round of integrated resort closures following a 15-day shutdown in February, the SAR needs to diversify its economy, particularly as output on mainland China – the peninsula’s primary source of gamblers – declines.“Macau could benefit from a moderate economic diversification from the gaming industry and a shift towards a more stable growth model over time,” said Fitch. With no concrete timetable as to when the property located south of the Strip on Las Vegas Boulevard might reopen, he claims the decision makes the most financial sense for workers.“As a result of the ongoing impact of the COVID-19 pandemic and the resort closure mandate through April 30, 2020 by Governor Sisolak, we have had to how close is the nearest casinomake a very difficult decision to furlough most of our employees for an indefinite period beginning on May 3, 2020,” a statement explained.In a letter to employees, Gaughan added, “By being furloughed, you will be better off. aliante casino jackpots