Macau’s casinos are set to lose more than £1 BILLION as the world’s biggest gambling hub shuts its venues for two weeks to curb the spread of coronavirus
- Gambling mecca of Macau to temporarily close its casinos amid coronavirus
- Virus hammered gambling industry over what would usually be busiest period
- Comes as the former Portuguese colony confirmed its tenth case of the virus
Macau has announced it will temporarily close all casinos and many other entertainment venues as the gambling hub battles the deadly coronavirus, cutting off the lifeblood of the city’s economy.
The move came on Tuesday as the former Portuguese colony confirmed its tenth case of the virus, which has killed more than 400 people in China, infected tens of thousands, and spread to more than 20 countries.
Chief Executive Ho Iat-seng, a pro-Beijing appointee who took office in December, said the gambling industry would close for two weeks, but warned that could be extended if the virus continues to spread.
Considering the annual gaming revenue in Macau amounts to £29.2 billion, a closure of just two weeks would amass to an estimated loss of £1.12 billion.
The only other time Macau has closed its casinos was in 2018, when a typhoon hit the city, which was featured in the 2012 James Bond film Skyfall.
Macau announced plans to temporarily shutter its entire casino industry
Some 35 million people visit Macau each year the vast majority mainland Chinese heading to casinos
‘This is a difficult decision, but we have to do it for the health of our Macau residents,’ Ho Iat-seng told reporters.
All 41 casinos as well as cinemas, theatres, bars, internet cafes and nightclubs would shut from midnight Tuesday, he said.
Six major gaming companies had promised not to sack staff or make them take sick pay over the closure period, Ho added.
Gambling has been permitted in Macau since the 1850s when it was legalised by the Portugese government.
Gaming stocks plunged after the announcement, with Sands China down 2.0 percent, Galaxy Entertainment down 2.3 percent and Wynn Macau down 1.7 percent at close of play Tuesday.
On Tuesday, health authorities announced two fresh infections — one a woman who worked in the gaming industry.
As the only place in China where gambling is allowed, Macau’s casinos account for about 80 percent of government revenue.
Some 35 million people visited the densely crowded city of just 632,000 people last year – the vast majority mainland Chinese heading to casinos that rake in each week what Las Vegas takes in a month.
The city featured in the 2012 James Bond film Skyfall, with glamorous scenes set in the fictitious ‘Golden Dragon Casino’ in Macau.
Arrivals to Macau have plunged 80 percent the last week. The virus has hammered the industry over what would usually be one of its busiest periods – the Lunar New Year holidays
The virus has hammered the industry over what would usually be one of its busiest periods – the Lunar New Year holidays.
The number of visitors plunged 80 percent in the past week.
Ho had previously said he was willing to close casinos because of the virus outbreak and establishments have been monitoring the temperatures of punters walking through their doors in recent days.
Ho, who wore a face mask for his news conference, said he had no plans yet to close the border with mainland China, but would consider shutting certain checkpoints – a step neighbouring Hong Kong has already taken.
He also called on residents to reduce trips outdoors.
‘Don’t go on the streets if not necessary. I hope everyone will wear a mask no matter where you go, supermarkets or wet markets. Don’t be careless. Don’t take it lightly,’ he said.