Macau Closes Casinos Most Businesses As Covid Outbreak Worsens

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"It's a geopolitical, national security issue, because the situation where Americans dominate 50% of Macau's primary industry is probably an unacceptable national security risk," said Ben Lee, founder of gaming consultancy IGamiX.

Gambling centres around the world like Las Vegas, a sixth of Macau's size in revenue, are cranking up business as years of COVID curbs fade.
But Sands China, Wynn Macau , MGM China, Galaxy Entertainment, SJM Holdings and Melco Resorts face zero revenue for the near future in locked-down, Chinese-ruled Macau - and their operators' contracts expire at the end of this year.

Frustration is mounting amongst residents at the government's handling of the outbreak. Some residents have had to queue for more than 20 hours to access healthcare facilities, and many are desperate to go back to work again. "There is so much anger in the community," said one casino executive who declined to be named due to company policy.

k yet. Macau will enter "static management" for a week starting July 11 and residents must stay home, with rulebreakers liable to be jailed for up to two years, top city official Andre Cheong said at a press c

HONG KONG, July 8 (Reuters) - Macau authorities have added two hotels in popular casino resorts to be used as COVID-19 medical facilities from Friday as they try to increase capacity to handle a surge of infections in the world's biggest gambling hub.

doors. Macau on Saturday reported 71 new Covid cases, bringing the total of infections to 1,374 since the latest wave began on June 18, low by global standards but the city follows mainland China's strict zero-Cov

The closely watched casino licence rebidding process comes amid Macau's worst coronavirus outbreak, with the government shutting down casinos for the first time on Monday in more than two years and locking down the city.

year. Authorities announced a week of lockdowns starting Monday after recording more than 1,500 infections in the past three weeks despite multiple rounds of compulsory mass testing of the city's 650,0

ation. The only city in China where casino gambling is permitted, Macau has seen its vital tourism revenues wiped out by some of the world's harshest measures to tackle the virus -- including tough border controls, weeks-long quarantines and targeted

While the government has not imposed the type of citywide lockdown seen in mainland Chinese cities, Macau is effectively closed with most facilities shut. Residents have been asked to stay home, public transport is curtailed and restaurants are only providing takeaway.

LOCKDOWN RUMOURS Residents thronged to food markets and grocery stores on Thursday, spooked that the city would be fully locked down. The government denied the rumours and urged the public not to panic and hoard food, according to local broadcaster TDM.

Having invested billion in Macau over the last two decades, they are soaking up losses as they prepare to bid for new licenses by next month in a business that generated $36 billion in revenue in 2019, the last year before COVID curbs slammed the sector.

That's pretty reasonable as far as data caps go. Internet usage is still climbing, but Americans went through an average of 536GB of data per month in the last few months of 2021, according to OpenVault. Then again, here at my place, we used about 1,300GB of data per month in 2021. Keep in mind that my roommate and I both work from home and use the internet pretty heavily (I test routers here, for Pete's sake). Good thing our plan doesn't come with a data cap -- no such luck with Cox.

Excluding money set aside for rebidding - $600 million - SJM has about one month left in cash reserves if casinos remain closed, according to DS Kim, analyst at JP Morgan in Hong Kong, who expects the company to tap its parent STDM for a HK$5 billion ($637 million) loan.

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gence. Last month Macau closed most of its businesses, ranging from bars to cinemas, as it adheres to China's zero-Covid strategy which seeks to stamp out the virus through lockdowns, strict border controls and mas

The other fee to be aware of is Cox's early termination fee. If you cancel your internet service while under a one-year contract, you'll be charged $120. Make that $240 if you're under a two-year contract.

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