Macau To Extend City Lockdown Casino Closure Until Friday

More than 20,000 people are in mandatory quarantine as the government adheres to China's zero-COVID policy, which aims to stamp out all outbreaks, running counter to a global trend of trying to coexist with the virus.
unes Macau casino shares plunged on Monday as the Chinese city embarked on a week-long lockdown to curb its worst coronavirus outbreak while neighbouring Hong Kong said it was mulling a mainland-style health co

HONG KONG, July 16 (Reuters) - Macau's government will extend a lockdown of casinos and other businesses until Friday, as authorities grapple to stop the spread of COVID-19 in the world's biggest gambling hub, according a statement on its website.

HONG KONG, July 6 (Reuters) - Macau has locked down one of the city's most famous hotels, the Grand Lisboa, after more than a dozen COVID-19 cases were found there on Tuesday, with infections spreading rapidly in the world's biggest gambling hub.

year. Authorities announced a week of lockdowns starting Monday after recording more than 1,500 infections in the past three weeks despite multiple rounds of compulsory mass testing of the city's 650,0
casino operators Las Vegas Sands, Wynn Resorts and Melco Resorts fell between 4.6% and 5.7% after Macau shut all its casinos for the first time in more than two years in a bid to contain the spread of COVID-19. (Reporting by Amruta Khandekar in Bengaluru; Editing by Shounak Dasgupta)

Macau imposed the shutdown last Monday, shuttering the city's economic engine - its casinos - and forbidding residents from leaving their apartments, except for essential activities such as grocery shopping.

ystem. Share prices of six gaming conglomerates -- Sands China, Galaxy Entertainment, SJM Holdings, Melco International, MGM China and Wynn Macau -- dropped by between six and nearly nine percent in Monday morn

After a dismal first half of the year, U.S.
stocks started July on an upbeat note, however, market participants fear that upcoming quarterly results could trigger another selloff, with earnings potentially falling short of estimates.

While the government has not imposed the type of citywide lockdown seen in mainland Chinese cities, Macau is effectively closed with most facilities shut. Residents have been asked to stay home, public transport is curtailed and restaurants are only providing takeaway.

HONG KONG, July 8 (Reuters) - Macau authorities have added two hotels in popular casino resorts to be used as COVID-19 medical facilities from Friday as they try to increase capacity to handle a surge of infections in the world's biggest gambling hub.

While the government has stopped short of imposing a full scale lockdown in the former Portuguese colony, seen in Chinese cities such as Shanghai, most facilities are shut and restaurants can only provide takeaway.

The report, which signaled a still strong labor market helped alleviate some fears about an immediate recession, but added to worries about more aggressive monetary policy tightening by the Fed to stamp out soaring inflation.

Frustration is mounting amongst residents at the government's handling of the outbreak. Some residents have had to queue for more than 20 hours to access healthcare facilities, and many are desperate to go back to work again. "There is so much anger in the community," said one casino executive who declined to be named due to company policy.

Sealed buildings include the landmark Grand Lisboa hotel on Macau's bustling main peninsula.
More than 500 people were locked inside the hotel for at least five days from Tuesday after infected cases were found there.

The authorities have placed more than 13,000 people under quarantine orders as the city battles to contain its biggest outbreak since the pandemic began. Macau has recorded more than 900 coronavirus infections since mid-June, prior to that it had largely been COVID-free since an outbreak in October 2021.

Only Macau's casinos have been allowed to stay open in a move to ensure job security. The government relies on the industry for more than 80% of its tax revenue with most of the population employed directly or indirectly by the casino resorts.

LOCKDOWN RUMOURS Residents thronged to food markets and grocery stores on Thursday, spooked that the city would be fully locked down. The government denied the rumours and urged the public not to panic and hoard food, according to local broadcaster TDM.

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July 11 (Reuters) - U.S. stock index futures fell on Monday, bracing for the start of the earnings season which could see profits come under pressure at a time of growing fears of an economic downturn due to aggressive interest rate hikes.