Macau Casinos Reopen at 20 Feb 2020
The coronavirus that has infected thousands of people worldwide, has also forced Macau casinos to close for 15 days casuing gambling revenue to plummet 87.8% from the same period of a year-ago.* Wynn Resorts said the closure was costing it between $2.4 million and $2.6 million a day while MGM Resorts said it was losing $1.5 million a day. Las Vegas Sands generates 64% of its revenue from Macau.
Casino stocks were already seeing gambling revenue fall by double-digit rates for several months, but analysts now forecast revenue will be down 70% in March and 35% for the second quarter. For the full year, gross gambling revenue is expected to be down 24%.
After a 15-day mandatory shutdown, 29 establishments opened their doors again at the stroke of midnight at 20 Feb 2020, with a raft of regulations covering those who wished to enter, including temperature checks, the compulsory wearing of masks and the submission of health declarations via mobile phone.
At the iconic Lisboa Casino, new rules saw to it that punters were scattered widely around the major hall, which houses dozens of gaming tables. At baccarat tables, which typically have seven seats, only three players were allowed at a time. Casino workers, meanwhile, patrolled the hall to make sure the rules were being observed. Dealers at the Venetian Macau, the city’s largest casino, asked gamblers to rub their hands with sanitiser every few rounds, though crowds were sparse the whole day.**