Casino operators' shares fall after Macau imposes partial confinement - Plataforma Media

Casino operators’ shares fall after Macau imposes partial confinement

Shares of Macau’s gaming operators fell during today’s Hong Kong stock exchange session on the first day the city shut down non-essential activities, including casinos.

The worst affected company was Melco International Development Ltd, which saw its shares fall 7.13 percent, while shares of Wynn Macau Ltd closed down 6.68 percent and those of Sociedade de Jogos de Macau (SJM) Holdings Ltd fell 6.65 percent. SJM operates the Grand Lisboa casino, closed since July 5 with about 500 employees and guests inside due to a Covid-19 outbreak.

Also Galaxy Entertainment Group Ltd shares lost 4.93 percent in today’s session, while those of MGM China Holdings Ltd fell 5.36 percent. Macau has closed all non-essential commercial activities, including casinos, until July 18, also imposing the mandatory use of KN95 or “higher standard” masks.

Read more on the subject: Macau lockdown begins, Hong Kong mulls health code app

According to an order of the chief executive, are excluded from the new measure entities that “provide essential public services” such as water supply, electricity or public transport. Markets, supermarkets, pharmacies, health care establishments and restaurants are also exceptions to the new rules.

“Everyone must remain at home, except for necessary work and the purchase of basic goods for daily life or for other urgent reasons,” the order also states.

Violation of these rules can be punished by a prison sentence of up to two years or a fine of up to 240 days. On Sunday, a new series of four rounds of mass population testing began to control the current Covid-19 outbreak, which has caused two deaths and more than 1,500 infected. With this new round, the number of mass tests will total ten in a single month.

Read also: Covid-19: Macau government pressured to control outbreak between local and Beijing messages

The population is also required to perform daily antigen tests and upload the image with the result to an ‘online’ platform. Thousands of people are quarantined in hotels and parts of the city are isolated, a number that has also been growing daily. Authorities have stressed that they follow Beijing’s zero-case policy, but rule out, for now, the scenario of general confinement, a standard practice in Inner China.

Este artigo está disponível em: Português

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