Macau, well known for its gambling industry, has shut down all its casinos for the first time in more than two years. The local authorities resorted to closing more than 30 Macau casinos on Monday – July 11th, 22, as well as schools and entertainment venues as the Covid outbreak in the city worsened. Let us check how this reflects the presence of online casinos in Macau.
Since the middle of June, the number of new registered covid cases, according to official figures, reached 1 526, and approximately 19 000 people have been put in mandatory quarantine.
Macau’s Government Information Bureau announced over the weekend that all businesses would have to suspend their operations unless they are considered essential to the community and the everyday lives of people. Furthermore, citizens have been ordered to stay at home and were informed that police would monitor the situation outside. For those who disobey, strict punishments would be imposed.
The businesses that remain open are supermarkets, pharmacies, fresh food markets, and hospitals.
In the city, more than 30 zones have been deemed high risk and are now under lockdown. Along with that, no one is allowed to enter or exit Macau for at least the following five days.
The last time the gaming hub shut down its casinos was in February 2020, for a period of two weeks. Initially the government had been hesitant to close casinos in an attempt to protect its citizens’ jobs and due to the massive revenue the industry brings. However, the struggle to contain the fast-spreading Omicron outbreak led to the measures being taken.
Analysts say that the suspension could be extended by another few weeks and that recovery in gaming revenue is unlikely before the end of the third or fourth quarter.
The analyst Terry NG concluded: “Even if the outbreak in Macau gets under control, it will likely be another few weeks before Macau-Zhuhai can remove quarantine requirements…”.
Along with that, frustration is rising among residents – fights have erupted in testing centers, while in other places, people have had to queue for more than 20 hours just to access healthcare facilities.
This week, citizens will be required to take part in mass Covid tests four times after already being tested 6 times since mid-June.
Nevertheless, more than 90% of Macau’s 600 000 residents have already received two doses of Covid vaccines. Additionally, in recent weeks officials have turned several popular casino resorts into medical facilities as the city only had one public hospital to handle the rising number of infection cases.
As a result of all this, Macau casino shares slipped on Monday as soon as the restrictions took place.
Shares in Sands China were trading 7% lower by mid-day in Hong Kong, and SJM Holdings’ shares fell by 6.1%.
Growth of Online Crypto Casinos
The current situation is expected to significantly increase the demand in the online crypto gambling industry. Gamblers will be forced to look for alternatives to the well-known live casino amusements.
The natural course of these events leads to more and more casino enthusiasts switching to playing in online casinos. Since cryptocurrencies are widely spread in Asia in general, it is no surprise that online crypto casinos in Macau have a significantly higher demand from players.
Still, taking into consideration today’s high-tech online gaming clubs and the first-class services being offered, it is unlikely that gamers will be disappointed.
They call me “The Wizard of the Words”, and my love for copywriting began at age 5, after receiving my
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