Return of COVID Will Hurt Macau Casinos' Q3, Analysts Say
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Macau government has introduced new health and safety measures to prevent the spread of the CoVID-19 virus. The government will close some entertainment venues and require all residents to take a COVID test within 72 hours. Analysts from Credit Suisse believe the new restrictions will hurt Macau casino market in Q3.
Macau has reported no COVID-19 deaths and 59 cases since the beginning of the pandemic. The government has introduced strict testing procedures for those traveling to or from the neighboring city of Zhuhai. Ho Iat-Seng has confirmed that casinos will close if the local government finds any cases within the properties.
Analysts revisit their estimates for Macau casino market's third quarter. New travel limits and mass testing have caused casino demand to decline. Chinese residents are returning to the mainland in droves. Visitors to Macao have declined 25% since July.
