While Macau’s casinos are technically open, most workers have been asked to stay home until the government continues to conduct mass testing of all residents, which began on Sunday and continues to this day with the latest tests for nearly 600,000 people. Gives.

Casino shares on the stock exchange fell on Monday morning Sands China Get the biggest hit with 8% drop This was the biggest drop in value since casinos closed their doors for two weeks in March 2020, following a sharp drop in tourist traffic in March this year.

Other operators – Galaxy Entertainment, Wynn Macau, MGM China, Melco and SJM Holdings Decreased between 4 and 7%.

China’s special administrative district relies on casino revenues for about 80 percent of its operating budget. Most of Portugal’s population is employed directly or indirectly by the gambling industry.

The experiment was carried out after discovering dozens of Covid-19 cases over the weekend. On Monday, 36 positive results were reported.

Short-term incomes are expected to fall sharply

Revenues are expected to drop to zero in the coming weeks as border restrictions tighten, more workers stay home and even restaurants close.

Analysts said today that the Galaxy Group has enough liquidity to endure five years of complete downtime at one end of the spectrum, and that the Macau Sands balance sheet is strong enough to survive only until March next year. According to a note from DS Kim, others have enough cash to last between 1.5 and 2 years. JPMorgan Chase & Co.

Across the mainland entry point, the neighboring city of Zhouhi requires people returning from Macau to be quarantined at home for a week and then another seven days to monitor their health.

Macao CEO Hu Ayat Sang said in an official statement that the latest There was a sudden outbreak And has a virus It spread rapidly No person as source. The current prevalence is shown to appear in two separate clusters. One seems to focus on foreign workers and the other on prison staff and their close contacts. The only known connection between the two clusters so far is a Macau / Zhou traveler.

Affected individuals range in age from an 8-month-old infant to an 89-year-old patient.

The outbreak came suddenly and spread rapidly

“The latest sudden outbreak has occurred and is spreading rapidly,” Macao chief executive Hu Ayat Sang said in a statement on the government’s website.

The last time the virus appeared in Macau was in October 2021. Near Hong Kong, another special administrative district of China, more than 9,000 people died out of more than a million earlier this year. Hong Kong continues to see at least 1,000 new cases a week, but hospitals and medical services are not under much stress.

Macau House is a single hospital that is currently under daily stress. It is unknown at this time what he will do after leaving the post. Those who travel From Zhuha to MacauI have to present a certificate dated the last 48 hours to show them The test was negative.

It is unknown at this time what he will do after leaving the post. Credit Suisse analyst Kenneth Fong said in a note on Sunday:Players may decide not to come in the short term for fear of not being able to return to their hometown if additional items are discovered.

Source: Macau, the world’s largest gambling center, closes most businesses amid the Covid-19 outbreak, but casinos remain openStar, June 20, 2022

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