Wynn burning $2m a day in Macau

The Wynn Resort in Macau is draining its cash resources at the rate of US$2m per day, its chairman Allan Zeman has told the US TV news channel CNBC.

This is because of the travel restrictions between the territory and the Chinese mainland. It is still 20 per cent lower than the daily cash drain during the first quarter of the year, however.

The Macau authorities, meantime, have confirmed that gaming revenue dropped by 96 per cent in the second quarter of 2020.