Macau Casino Stock Falls On Monday Amid Casino Pause

Shares related to Hong Kong-listed Macau casinos fell 8.15% from 4.93% on Monday, the first day of trading, after announcing a seven-day suspension of Macau casino operations from Monday. The full closure of the Macau casino is the first since its 15-day suspension in early February 2020, near the start of the pandemic crisis.

All non-essential businesses in Macau are temporarily closed until July 18 due to COVID-19 measures. Residents are also prohibited from leaving their homes unless there is a good reason, such as purchasing groceries. 경마사이트

Macau had a total of 1,526 confirmed cases of COVID-19 as of midnight on Sunday. According to local authorities, a total of 59 new infections were detected that day. The current incidence figures have been measured since June 18.

Information on the Hong Kong Stock Exchange website showed the average drop of six stocks on Monday was just under 6.5 percent for Macau operations. The Hang Seng index, the underlying index, fell 2.77% on the day.

Galaxy Entertainment Group fell 4.93% to close at HK$45.30 ($5.796) on Monday. Melco International Development fell 7.43% to HK$5.21. The company is the Hong Kong-listed parent company of Nasdaq-listed Melco Resorts & Entertainment. The latter has casino businesses in Macau, the Philippines and Cyprus.

MGM China Holdings, Inc. MGM fell 5.36% to HK$4.06 from Monday’s close. Sands China, Inc. SANS fell 8.15% to HK$17.14 at the end of business on Monday. The stock had the highest daily turnover of HK$503.41 million for Peer Group.

SJM Holdings, Inc. SJM fell 6.65% to HK$3.23 while Win Macau, Inc. WIN fell 4.89% to HK$4.89 in Monday’s trading.

At least two-thirds of casino gross gaming revenue (GGR) in the third quarter could be at risk in the wake of the current COVID-19 community crisis in Macau, JPMorgan Securities (Asia Pacific) said in a note on Monday.

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