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.