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The Chinese city of Macau has been forced to close its 41 casinos for two weeks, as the bid to stop the coronavirus from spreading continues.
The virus, which has been affecting many parts of China, is showing no sign of easing up and is set to hit casino operators in Macau, which could have a knock-on impact throughout the world.
The Cause
The coronavirus is a respiratory illness of which there has been an outbreak in China, leading to the death of around 500 individuals.
It is believed to have spread as far as 25 nations and been contracted by more than 24,000 people, and has already led to the postponement of sporting events such as the World Indoor Athletics Championships, with the Chinese F1 Grand Prix also in doubt.
10 people in Macau are said to have fallen foul of the virus, including an employee at the Galaxy Casino, one of the leading gambling establishments in the city, something which has forced the closure of casinos throughout the Chinese region.
The Effect
Closing down the casinos in Macau has been likened to shutting down the Las Vegas Strip six times over.
Gambling accounts for around 80% of local government revenue, but officials in the city are convinced that the economy can take the hit and still thrive once trading is allowed to resume.
Although the Macau hierarchy is confident they can live without two weeks trade, this is sure to have an effect on wider global companies such as Wynn Resorts and Las Vegas Sands, who also operate in the Chinese city.
“Of course this was a difficult decision, but we must do it for the health of Macau’s residents…
Macau can still bear these economic losses.”
– Ho Iat Seng, a senior executive in Macau said while speaking in a mask at a hastily arranged news conference.
It remains unclear exactly when operations in Macau will resume, with no signs of the spreading of the disease ending, however with gambling income so vital to the economy of the city, all efforts will be made to open up the casino rooms as soon as possible.