Casino Stocks Plunge As Macau Shuts All Casinos To Curb COVID-19 Spread

  • The government of Macau has ordered to close shutters on all of its casinos and other commercial establishments in an effort to curb the resurgence of coronavirus outbreak.
  • The world’s biggest gambling hub has ordered to close more than thirty casinos.
  • All industrial and commercial ventures will remain closed for one week from the midnight of July 11 to the midnight of July 18.
  • Macau has recorded around 1,500 COVID-19 infections since mid-June, Reuters reported.
  • The casino industry accounts for more than 80% of the government revenues.
  • Shares of Wynn Resorts Limited WYNN are down 5.83% at $53.17 in premarket trade on Monday, Las Vegas Sands Corp LVS dropped 5.41% at $32.52, Melco Resorts & Entertainment Ltd MLCO lost 5.54% at $5.29, and MGM Resorts International slipped 3.48% at $28.32.
  • Photo Via Wikimedia Commons
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