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Coronavirus Shuts Macau, The World’s Gambling Capital
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We use cookies and other data for a variety of reasons, including keeping websites reliable and secure, personalizing content and ads, providing social media features, and analyzing how our websites are used. Gaming revenue in Macau in November was down 8.5 percent year-on-year. year to $2.8 billion as headwinds continue to hit the world’s largest gambling hub. It’s the steepest fall in a year that has already seen seven months of year-over-year declines. Revenue was down 2.4% over the past year.
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A sluggish Chinese economy, a weakened yuan and the ongoing trade war between China and the United States have combined to weaken the financial outlook. Recent civil unrest in nearby Hong Kong may also have played a role in preventing visits to the region.
A recent attack by Chinese state media on Suncity, Macau’s largest operator, has had a negative impact on the VIP segment of the industry.
The anniversary of the secession of the Special Administrative Region (SAR) from Portugal has led mainland officials to implement stricter visa policies for visitors to Macau. An influx of Chinese dignitaries and politicians is expected to descend on the SAR in the coming weeks, and officials are preparing the ground.
From November 22 to December 20, tourists entering Macau under the Individual Visitor Scheme or Combined Travel Visa will only be allowed to visit Macau once during the period.
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There has also been speculation that President Xi Jinping himself could be planning a visit, which could lead to players staying away. But equally, Xi could choose to distance himself from the region because of the protests in Hong Kong.
Analysts cautioned against comparing 2019 to 2018, a great year for the industry, full of double-digit growth. They expect December to fall 10 percent year-on-year, with a slightly better outlook forecast for 2020, with a 3 percent increase for the year.
On Sunday, Macau appointed a new Secretary of Economy and Finance, Lei Wai Nong, who will oversee the gaming industry as it enters a crucial relicensing process. Lei is part of a new crop of government officials selected by the SAR’s new chief executive, the pro-Beijing Ho Iat Seng.
. “I would like to emphasize that serving the public interest, the interest of the people, is [the government’s] priority,” according to the game’s policy.
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“We need to fully evaluate the existing video game concession contracts, which have been in place for almost 20 years,” Lei added. “Based on this assessment, we will eventually introduce some changes [and] address some deficiencies [in the licensing process],” he added. Officials in the Chinese city of Macau on Tuesday asked its 41 casinos to close for six months as they rush. to stop the coronavirus outbreak that is affecting China and the region. The move will shut down the gambling capital of the world, potentially affecting major US casino operators such as Wynn Resorts and Las Vegas Sands, as well as local businesses that support the territory’s economy.
Authorities said 10 people in Macau were sick with the pneumonia-like illness, including a hotel employee at the Galaxy Casino, one of the city’s busiest gambling dens. While there have been no deaths there, the coronavirus is known to have killed at least 490 people in mainland China, one in the Philippines and one in Macau’s neighbor Hong Kong.
“Of course, it was a difficult decision, but we have to do it for the health of the people of Macau,” Ho Iat Seng, the head of the semi-autonomous Chinese territory, told a televised news conference.
Wearing a blue mask and suit, Mr Ho said the hotel worker’s case served as a warning that the virus was starting to spread across the city. The worker shared shuttle buses and the casino cafeteria with his colleagues.
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Gambling accounts for four-fifths of Macau’s government revenue. But Mr Ho said: “Macau can still bear these economic losses.”
‘I feel abandoned’: How Wuhan residents cope with coronavirus Authorities have locked down Wuhan, the Chinese city of 11 million people at the center of the coronavirus epidemic. The neighbors explained to us how they do it.
This is Wuhan, the city that officials say is the epicenter of the coronavirus epidemic. We reached out to Wuhan residents who have been cut off from the outside world for days to find out how they are coping. They wear masks to hide part of their identity for fear of being persecuted for speaking out. One patient who spoke to us via audio told us about his struggle to receive treatment. Mr. Liu recovered at home and is now doing better. Some blame the government for mishandling the situation… …but remain hopeful as citizens step in to help.
Authorities have locked down Wuhan, the Chinese city of 11 million people at the center of the coronavirus epidemic. The neighbors told us how they are doing it. Credit credit… Getty Images
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The coronavirus has shaken companies and investors around the world who have depended on China for its efficient factories, increasingly affluent consumers and years of tough economic growth. General Motors, Ford, Nissan and other car companies temporarily closed factories. Apple and Starbucks have closed stores.
On Tuesday, Cathay Pacific, Hong Kong’s largest domestic airline, announced major cuts to flights from China and plans to shrink its network, and American Airlines suspended all flights to Hong Kong from Dallas-Fort Worth and Los Angeles until February 20. low demand
Macau was bustling just two weeks ago as tourists from mainland China arrived for the Lunar New Year holiday. Credit… Anthony Kwan/Getty Images
Most of China remains under lockdown due to the coronavirus, which first appeared in the Chinese city of Wuhan and sickened thousands of people in the country. The global economic outlook, the fortunes of big companies and the jobs of workers around the world could depend on how quickly they return.
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Macau is a shining and sometimes blatant symbol of the world’s dependence on Chinese money. A former Portuguese colony that returned to Chinese control in 1999, Macau is the only part of China that allows casino gambling.
As deep-pocketed Chinese tourists arrived in droves, Macau transformed into a thriving international hub for entertainment, fine dining and luxury shopping. Gambling companies built sprawling casinos, lighting up the once-sleepy skyline of the city of just over 622,000 people with neon and spotlights. It offers everything Las Vegas has, like a miniature Eiffel Tower, and more, like a golden dragon cable car that floats in front of the dancing fountains of the Wynn Palace.
Macau was buzzing just two weeks ago as tourists from the mainland arrived to spend the Lunar New Year holiday at the city’s baccarat tables and Michelin-starred restaurants.
“There were no signs of the epidemic anywhere,” said Wang Qian, who was traveling with her parents for shopping and sightseeing.
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When they visited Casino Lisboa on January 21, employees took their temperature. However, when they left three days later, “I think people still didn’t take it seriously, but many started wearing masks,” he said.
Macau also suspended basic public services on Tuesday, with Mr Ho urging residents not to leave their homes except to get food. “This is not a vacation,” he said.
“It’s just stunning. I’ve never seen anything like this in my 25 years here,” said Carlos Lobo, a lawyer and gambling consultant in Macau.
“This shows two things: the gravity of the situation