๐Ÿ’ฐ Lockdown 'leads gamblers from sports bets to riskier choices' | Society | The Guardian

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The suspension could be extended, depending on the severity of the outbreak. Macao has confirmed 10 cases of the coronavirus. Data also provided by. Skip Navigation. Macao gross gaming revenues in January dropped We'll do all the paid-time-off, all things we can do to mitigate, but I think it'd be silly to think that we can make a material impact on operating costs. Related Tags. Market Data Terms of Use and Disclaimers.{/INSERTKEYS}{/PARAGRAPH} Las Vegas Sands lagged just slightly at about 2. That may be one factor behind the rally in casino stocks, in spite of the news of the suspension of gambling operations. We are closing our casinos and gaming areas, while maintaining non-gaming facilities to support hotel guests in both of our properties. We want to hear from you. Any impact on the stocks would be temporary and most likely signal a near-term bottom. But Curtis notes, "We believe such a costly outcome would be temporary. Macao has also enacted a policy requiring casinos to provide local accommodations to non-resident employees those who live in China to protect them against contracting and potentially transmitting the virus, regardless of whether the workers are employed in construction, catering, hotels, cleaning or casinos. All Rights Reserved. The government of Macao requests that gaming operations at 41 casinos, including MGM Resorts, cease for the next 15 days, in response to the coronavirus epidemic. They're real. CNBC Newsletters. Key Points. Markets Pre-Markets U. We support the Government's decision to prioritize public safety and temporarily suspend the operations of all of Macau's gaming areas, which we believe is in the best long-term interests of everyone concerned. And though Las Vegas has seen Chinese visitation slump over the past year as a result of the trade war, visa restrictions and a slowing Chinese economy, the sweeping travel ban will likely take a toll as well. The U. News Tips Got a confidential news tip? Sign up for free newsletters and get more CNBC delivered to your inbox. {PARAGRAPH}{INSERTKEYS}The world's most lucrative gambling destination will suspend casino operations, at the request of the government of Macao. We believe that our goals and the goals of the Macau government during this challenging period are fully aligned. VIDEO An attendant checks the temperature of a tourist at the entrance to the Galaxy Macau casino and hotel, developed by Galaxy Entertainment Group Ltd. The risk remains that the issue endures and impacts economic activity for portions of the remainder of and therefore volatility remains. Get this delivered to your inbox, and more info about our products and services. Wynn Resorts issued a statement to CNBC: "Our greatest concern and our top priority is the health and safety of our employees, their families and the citizens of Macau. Macao has considered closing its borders to Mainland China entirely. Hong Kong is the primary gateway to Macao, and it's closed most of its border with the mainland but not the airport or the bridge that connects Macao to Hong Kong. Get In Touch. Doctor lays out steps travelers can take to protect themselves from coronavirus. Meanwhile the travel restrictions now in place in the United States and around the world will likely have an impact on land-based casinos around the world. We will continue to work closely with the Macau government as the situation progresses. Singapore now has 24 confirmed cases. The special administrative region has requested gaming operations at 41 casinos cease for the next 15 days, with a possible extension depending on the severity and duration of the coronavirus outbreak. After the closure of casino operations, Jefferies gaming analyst David Katz wrote in a Tuesday morning note, "Our assumption, and we believe that of the market, is that operations ramp over time and the impact is confined to 1Q20, which may or may not prove correct, but is supporting stocks.