Originally due to finish on 18 July 2022, the closure of the region’s casinos is now scheduled to end on 23 July.
Macau’s Government intends to distribute $1.24bn to businesses affected by the shutdown, as the region's 41 casinos are expected to lose $1bn during the current period of closure.
The real worry, however, is that Macau’s current outbreak will continue to persist past this point.
The Government is closely following mainland China’s zero Covid-19 policy in its application of social distancing measures. Should local cases continue to be reported, Macau’s Covid restrictions will persist too.
As part of the local lockdown, authorities have suspended all dine-in services and called a stay-at-home order for all but essential travel.
Furthermore, KN95 masks specifically must be worn when leaving the home for essential goods and services.
At present, several Cotai casino resorts have made themselves available as quarantine destinations.
The Studio City resort and Broadway Macau were the most recent locations to add themselves to the list, adding over 1000 rooms to the region’s quarantine capacity.
The situation in Macau does not look promising for the three Las Vegas companies with holdings in the region – Sands, Wynn Resorts and MGM Resorts.
The region has not managed a recovery anywhere near the operating levels it reached pre-pandemic. A Macau recovery does not look particularly close either.
The news, presumably, is harder to take for Sands which no longer has its Las Vegas destination as a source of revenue after it sold the Venetian for $6.25bn in 2021.
Singapore and the Philippines have been revenue havens for companies operating in Asia, while Macau continues to struggle.
