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Macau casinos allowed to reopen Thursday after coronavirus shutdown

Macau casinos allowed to reopen Thursday after coronavirus shutdown

Macau suffered significantly after the stop its multiple casinos’ activity. After 15 days of shutdown, the biggest global gambling hub allowed reopening. Since Feb 20, Macau casinos start to work again, including the local units of Las Vegas Sands Corp. and MGM Resorts International.

Lei Wai Nong, secretary for economy and finance in the Chinese territory of Macau, confirmed the good news for casino’s owners. On Monday, the official told the journalists that casinos can reopen Feb. 20. However, there are several criteria, according to which the casinos will resume their operation.

In fact, the gambling sector is one of the most important for the Chinese economy. As Fitch Ratings estimates, the coronavirus crisis could wipe out $3.3 billion in cash flow for the six Macau operators, Bloomberg reports.

Macau reported 10 coronavirus cases so far

Macau’s health authorities have reported 10 confirmed COVID19 cases, however, there were no new infections for 12 straight days, according to a statement released by local health authorities late Sunday.

Since Feb 5, Macau closed casinos for a 15-day period, in the longest shutdown ever for the world’s biggest gambling hub. MGM said it’s losing $1.5 million a day in Macau, while Wynn Resorts Ltd. said it is losing about $2.5 million a day.

Meanwhile, Sands China President Wilfred Wong estimates that when casinos first re-open, it will take two-to-three months before a gambling business can return to normal.