HONG KONG: It’s like closing the Las Vegas Strip, six times over. Officials in the Chinese city of Macau on Tuesday asked its 41 casinos to close for half a month as they rush to stop the coronavirus outbreak afflicting China and the region. The move will shut down the world’s gambling capital, which could slam big American casino operators like Wynn Resorts and Las Vegas Sands as well as the local companies that sustain the territory’s economy.
Authorities said 10 people in Macau have been sickened by the pneumonialike illness, among them a hotel employee at Galaxy Casino, one of the city’s busiest gambling establishments. No deaths have been reported in Macau. “Of course this was a difficult decision, but we must do it for the health of Macau’s residents,” said Ho Iat Seng, chief executive of the semiautonomous Chinese territory. Wearing a blue face mask and a suit, Ho said the case of the hotel worker served as a warning that the virus was beginning to spread through the city. The worker had shared shuttle buses and the casino cafeteria with colleagues. Gambling accounts for four-fifths of the Macau government’s revenue. But Ho said, “Macao can still bear these economic losses.” Macau also suspended basic public services on Tuesday.
Macau’s gross gambling revenue totalled $36.5 billion last year, a 3.4% drop from the year before but still about six times that of the Las Vegas Strip. The effect will be “devastating” in the short term, said Matthew Ossolinski, a gambling consultant and investor. He estimated that the two-week closure could shave off 5-15% of Macao’s gambling revenue this year.
Authorities said 10 people in Macau have been sickened by the pneumonialike illness, among them a hotel employee at Galaxy Casino, one of the city’s busiest gambling establishments. No deaths have been reported in Macau. “Of course this was a difficult decision, but we must do it for the health of Macau’s residents,” said Ho Iat Seng, chief executive of the semiautonomous Chinese territory. Wearing a blue face mask and a suit, Ho said the case of the hotel worker served as a warning that the virus was beginning to spread through the city. The worker had shared shuttle buses and the casino cafeteria with colleagues. Gambling accounts for four-fifths of the Macau government’s revenue. But Ho said, “Macao can still bear these economic losses.” Macau also suspended basic public services on Tuesday.
Macau’s gross gambling revenue totalled $36.5 billion last year, a 3.4% drop from the year before but still about six times that of the Las Vegas Strip. The effect will be “devastating” in the short term, said Matthew Ossolinski, a gambling consultant and investor. He estimated that the two-week closure could shave off 5-15% of Macao’s gambling revenue this year.
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