Macau Closures Could Extend Over Estimated Two-week Period
The Macau closures could take more than the estimated two weeks, says Las Vegas president Rob Goldstein. Macau casino closed down to protect the Special Administrative Region (SAR) citizens as well as the gaming employees against the coronavirus. However, Goldstein believes that the expected two-week closure may just be extended. Rob Goldstein was at the Nevada Gaming Control Board (NGCB) meeting when he made his comments about the shutdown.
Goldstein appeared before the board for a hearing about the licensing suitability. However, he went further and spoke about the coronavirus challenge in Macau. He stated that the closure could extend to two months. Macau Chief Executive, Ho Lat Seng, told the media earlier this week that the Macau casinos would close down following ten coronavirus cases in the region. The number of people affected by the coronavirus remains at 10 in Macau. However, there are almost 25,000 cases in the world. Macau visitors have been advised to avoid the area until the situation has been contained.
Macau Closures Affect Gaming Revenue
Since the Macau closures have come into effect, visitors have not been frequenting the region. The gaming profits are decreasing. The January reports show a decrease of 11.3% in the peninsula. The analysts have projected a 75% drop this year.
Analysts from JPMorgan projected a 75% drop in SAR’s gaming revenue for February. The analysts also expected a 6% decline for the year. As the virus has worsened, casino operators and executives are yet to offer estimates of the revenue. However, there may not be a need to provide those estimates because everyone is expecting the numbers to be awful.
The coronavirus has been dubbed the “Wuhan Virus” because the city was ground zero for the breakout. This virus is a strain that has not been detected before. Research has said that it is similar to SARS and the MERS syndrome. It also contains some strains of the common cold.
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