Earlier this month, officials in Macau decided to shut down all of the territory’s casinos. This came in an attempt to stop the spread of the coronavirus. This week, Las Vegas casino companies are beginning to celebrate, as Macau’s casinos are opening up again.
The spread of the coronavirus seems to be slowing down. With casinos in Macau opening back up, many of the biggest casinos in Las Vegas can start generating revenue in this territory again. Today, we’re going to look at what’s happening here.
Let’s get into it!
Macau Coronavirus Infection Rates Seems to be Slowing
If you follow the news, there’s a good chance you’ve heard of the coronavirus spreading throughout China. The first cases of this virus popped up in December and were traced to a seafood market in Wuhan that sold illegal wildlife. Since that time, it’s spread rapidly all over the country and abroad.
At first, it was unclear just how deadly the coronavirus was. Its ability to spread was apparent, yet the virus didn’t seem quite as deadly as the SARS virus of the early 2000s. The death toll has now surpassed SARS by a large margin and researchers are understanding how serious of an issue this is becoming.
Officials in China have been working hard to stop the spread of this coronavirus. Based on new reports, these efforts are paying off. Infection rates have begun to slow down, which could indicate that the virus is beginning to taper off.
That doesn’t mean things are completely safe. There are still thousands of new cases of the virus popping up every single day. The world is very aware of the danger that’s out there.
The coronavirus has taken a serious toll on many Las Vegas casino operators. As we mentioned earlier, casinos in Macau were closed down due to the Wuhan coronavirus. Now, it appears they are set to open back up. Here’s what’s happening.
Macau’s Casinos Are Set to Open Once Again
It’s been weeks since Macau’s casinos have been opened to the public. Officials in the territory felt that closing these venues down would help to prevent the spread here. On Friday, these massive gaming venues will finally open back up.
This includes the properties owned by Wynn Resorts, Las Vegas Sands, and MGM Resorts International. These Las Vegas-based companies were losing millions of dollars every day due to the casino closures. It also took a serious toll on these companies’ stock prices.
Lei Wai Nong announced that the city’s casinos will officially open on Friday. That makes it 15 days since they were first shut down. Obviously, the Las Vegas companies have reason to celebrate.
It’s still unclear when Macau’s other public facilities will open up. This includes movie theaters, internet cafes, and gyms. As the virus begins to taper off, more venues in this city will be given permission to reopen.
When operating normally, Macau’s casinos bring the territory millions of dollars every single month. Unfortunately, this territory has been plagued with bad luck lately. We’ll need to wait and see how much revenue increases here once the gaming establishments are back up and running.
Las Vegas Gaming Revenue Continues to Increase
Macau’s gambling industry is struggling right now. Even before the coronavirus hit this small city, things weren’t great. A slowing Chinese economy has lessened the number of gamblers visiting Macau.
Over in Las Vegas, however, things are going smoothly. This city has experienced an increase in gaming revenue for the past few months. It’s a fantastic time to be a casino operator here.
This isn’t likely to slow down anytime soon. Over the next year, several major casino-resorts are scheduled to open in this city. This includes Resorts World Las Vegas, the most expensive hotel-casino ever built in this city.
Once Macau’s casinos open up again, many of the biggest companies in Las Vegas will see their revenue earnings increase. Many of these companies continue to invest billions of dollars into the territory, despite the trouble Macau has been facing.
The Wuhan coronavirus is still a major issue in China. It’s unlikely that Macau’s casino industry will start surging right away. Eventually, however, this city may become the world’s largest gambling hub once again.
Stay tuned for more Macau casino news over the next few weeks!