In this Jan 22, 2020 file photo, visitors wear face masks as they walk outside the Venetian casino hotel resort in Macao. (ANTHONY WALLACE / AFP)

Macao casino operators are expected to post a loss of over US$1 billion collectively in their earnings before interest, tax, depreciation and amortization for the quarter that ended June 30, according to a Bloomberg survey of analyst estimates.

SJM Holdings Ltd and MGM China Holdings Ltd are expected to lead the tally of year-on-year declines

Each of the six operators will likely have negative quarterly when they start reporting earnings in the coming weeks, according to the survey of eight brokerages. 

ALSO READ: Macao casino shares surge as mainland border reopened

SJM Holdings Ltd and MGM China Holdings Ltd are expected to lead the tally of year-on-year declines.

The Macao special administrative region’s casino industry saw gaming revenues plunge by more than 90 percent for three straight months starting April as the pandemic-causing novel coronavirus forced countries to shut borders.

ALSO READ: Macao halves 2020 gaming revenue forecast on virus hit

Recovery prospects brightened for the world’s largest gambling hub after neighboring mainland province Guangdong lifted quarantine requirements for travelers returning from Macao this month.

The Chinese mainland restarting the individual visas, called IVS, is the next eagerly awaited step. 

“The initial enthusiasm around border easing is a sign of some pent up demand, but without IVS restart, V-shape recovery is not expected,” Sanford C Bernstein analyst Vitaly Umansky said in a July 20 note.

READ MORE: Macao announces relief measures for residents