Macau shuts most businesses amid COVID
outbreak, casinos stay open
Send a link to a friend
[June 20, 2022]
HONG KONG (Reuters) -The world's biggest gambling hub
Macau began its second day of mass COVID-19 testing on Monday after
dozens of locally transmitted cases were discovered over the weekend,
with most businesses shut but casinos remaining open.
The testing of Macau's roughly 600,000 residents is expected to end on
Tuesday as the Chinese-ruled former Portuguese colony adheres to China's
"zero COVID" policy aiming to eradicate all outbreaks at just about any
cost.
Most residents are asked to stay home, restaurants will be shut for
dine-in and border restrictions have been tightened, meaning casino
revenue is likely to be close to zero for at least a week and likely the
coming weeks, analysts said.
Shares of Macau casinos tumbled on Monday morning with Sands China
leading the slide falling over 8% the biggest decline since March 15.
MGM China, Wynn Macau, Galaxy Entertainment, Melco and SJM Holdings
dropped between 4%-7%.
Macau's government relies on casinos for over 80% of its income, with
most of the population employed directly or indirectly by the casino
industry.
![](http://archives.lincolndailynews.com/2022/Jun/20/images/ads/current/charrons_bch_2022.png)
The latest outbreak came suddenly and has been spreading rapidly with
the source still unknown, Macau's chief executive Ho Iat Seng said in a
statement on the government's website.
Macau's previous coronavirus outbreak was in October last year. An
outbreak in the neighbouring Chinese territory of Hong Kong this year
saw more than 1 million confirmed infections, and more than 9,000
deaths, swamping hospitals and public services.
[to top of second column]
|
![](../images/062022PIX/health1.jpg)
People walk in front of Casino Lisboa in Macau, China December 21,
2019. REUTERS/Jason Lee/File Photo
![](http://archives.lincolndailynews.com/2019/Sep/05/images/ads/current/stclara_lda_SPONSOR_090519.png) While Hong Kong has seen an increase
to over 1,000 daily cases in the past week, officials have said they
are unlikely to further tighten restrictions as the pressure on
medical services has not increased.
Macau only has one public hospital and its services are already
stretched on a daily basis. The territory's swift plan to test its
entire population comes as it keeps open the border with mainland
China, with many residents living and working in the neighbouring
Chinese city Zhuhai.
China in contrast has not opened its borders to
Hong Kong, with the financial hub largely isolated from the mainland
and the international world.
Macau's legislature is this week due to approve an amended gaming
law which will lay the groundwork for what is required from the
multibillion dollar casino operators to continue operating.
"Depending on how quickly Macau is able to get the newest outbreak
under control, there is risk of delay to finalisation of the gaming
law amendments and subsequent concession
tender process," said Vitaly Umansky, analyst at Sanford C
Bernstein.
(Reporting by Farah Master; Editing by Michael Perry and Stephen
Coates)
[© 2022 Thomson Reuters. All rights
reserved.] This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content. |