Macao Streets Empty After Casinos Shut to Fight Outbreak
For the first time since the start of the global pandemic in early 2020, Macau casinos have been shut down again.
Streets in the Chinese territory, the world's largest gambling hub, resembled a ghost town early this week.
Macau will suspend almost all business activities for a week effective this past Monday in a bid to control a rising number of new Covid-19 infections.
Gambling firms worry the shutdowns could go beyond this week, resulting in plummeting stock prices.
Shares of MGM Resorts International, Melco Resorts & Entertainment Limited, Wynn Resorts, Limited and Las Vegas Sands Corp declined 3.2%, 9.6%, 6.51% and 6.3%, respectively on the news.
The government is requiring taxi and bus drivers to test daily. The public is required to register for passes to ride public transportation, which is running at reduced capacity.
Terry Ng, an equity research analyst at Daiwa Capital Markets Hong Kong, spoke the BBC earlier this week.
"Because mainland Chinese tourists accounted for 71% of all tourists and more than 90% of gross gaming revenue, they have to duly follow mainland China's zero-Covid policy which is highly restrictive," he said.
Gambling is illegal in mainland China but is allowed in Macau.
- Aaron Goldstein, Gambling911.com
