Macau is rocked by local COVID cases which threaten casino traffic [Seeking Alpha]
WYNN MACAU LTD UNSP/ADR (WYNMY)
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Source: Seeking Alpha
Macau is rocked by local COVID cases which threaten casino trafficJun. 20, 2022 10:16 AM ETWynn Macau, Limited (WYNMY)WYNMFSJMHFSCHYYSCHYFMCHVFGXYEFMLCOWYNNLVSMGMBy:Clark SchultzSA News Editor5 Commentsgreenleaf123/iStock via Getty ImagesMacau casino stocks fell in Hong Kong after the gambling region saw its first COVID-19 outbreak in eight months.The city reported 21 preliminary-positive cases in the local community as of Sunday evening. Schools and non-essentialbusinesses were shut down until at least Tuesday to allow time for mass testing of all residents. Arrivals to Macau via Zhuhai-Macao ports must present a proof of negative result of nucleic acid test within 48 hours.Jefferies called the development yet another bump in the road for the Macau casino sector recovery."Macau gaming revenue should hit new YTD lows given mass testing from noon on 6/19 after the new local infection outbreak. Intuitively, visitations would be impacted and gaming revenue should hit new YTD lows, which
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