Suppliers of slot machines, baccarat table systems and other casino equipment are moving out of Macao to more welcoming markets, in another sign of the damage China¡¯s ¡°COVID zero¡± policy has wrought on the formerly bustling gambling hub.
With demand in Macao waning, Light & Wonder, a leading provider of products used in casinos, is relocating its expatriate staff to the Philippines, which has become its top market in Asia and where it is opening a new office. Another equipment-maker from Japan is also shifting employees to the Philippines and Singapore.
The Japanese company is moving as many as 30% of its employees and has taken more than half of its inventory out of Macao due to supply-chain challenges, a person familiar with the matter said, asking not to be identified discussing information that wasn¡¯t public. The person also asked for the company not to be named. It has seen revenue plunge about 90% in Macao as casinos shelved purchasing plans amid a prolonged industry slump.
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