Hong Kong Casino Stocks Slide As Macau Clamps Down On Covid Spread With Fresh Lockdown

Hong Kong Casino Stocks Slide As Macau Clamps Down On Covid Spread With Fresh Lockdown

Macau has shut down all of its casinos and ordered its residents to stay at home for a week due to an ongoing Covid outbreak.

Hong Kong casino stocks are down on Monday. Macau has started a seven-day lockdown on the outbreak of Covid-19 virus. The total number of infections in the current outbreak has reached 1,500. More than 614,000 people in Macao have been vaccinated against the virus, including 94.6% of the population. The net worth of Hong Kong billionaire and casino tycoon Lui Che Woo has dropped 28% since the start of pandemic. He's been hit by the drop in tourism during the pand epidemic. China's "zero-Covid" policy aims to eliminate the local spread of virus and has caused severe economic disruption.

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Bernstein’s report also warned that the same revenue “could be lower if China COVID outbreaks further hurt travel sentiment and visitation into Macau does not pick up.” READ MORE HERE:

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- #Macau GGR could be up 70% in September, analysts say As ever that depends on there being no major Covid-19 outbreaks in China.

 - #Macau GGR could be up 70% in September, analysts say

As ever that depends on there being no major Covid-19 outbreaks in China.
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John Lee had been due to visit Shenzhen and Guangzhou to discuss ways to resume travel with the Chinese mainland. #COVID19policy READ MORE HERE