Jul 11, 2022 Newsdesk Latest News, Macau, Top of the deck  
Macau casino-related stocks listed in Hong Kong all fell on Monday, by between 4.93 percent and 8.15 percent, on the first day of trading after Saturday’s announcement of a seven-day pause in Macau casino operations effective on Monday. It is the first time there has been a complete Macau casino shutdown since a 15-day hiatus in early February 2020, near the start of the pandemic crisis.
All non-essential business venues in Macau will have temporarily to shut until July 18, as a Covid-19 countermeasure. Residents are also banned from leaving their homes unless for what is deemed a valid reason, such as buying groceries.
Macau had a total of 1,526 confirmed Covid-19 cases as of midnight on Sunday. A total of 59 new infections was detected that day, according to the local authorities. Figures for the current outbreak are being measured from June 18 onward.
In terms of the Macau operator stocks, Monday’s average decline across the six was just under 6.5 percent, according to information on the Kong Kong Stock Exchange website. The underlying Hang Seng Index was down 2.77 percent on the day.
Galaxy Entertainment Group Ltd closed on Monday down 4.93 percent, at HKD45.30 (US$5.796). Melco International Development Ltd saw its stock down 7.43 percent, at HKD5.21. The firm is the Hong Kong-listed parent of Nasdaq-listed Melco Resorts and Entertainment Ltd. The latter has casino business in Macau, the Philippines and Cyprus.
MGM China Holdings Ltd was down 5.36 percent at the close on Monday, at HKD4.06. Sands China Ltd was down 8.15 percent at Monday’s end of business, at HKD17.14. The stock had the highest daily turnover of its peer group, at HKD503.41 million.
SJM Holdings Ltd was down 6.65 percent, at HKD3.23; while Wynn Macau Ltd dropped 4.89 percent in Monday trading, to HKD4.89.
JP Morgan Securities (Asia Pacific) Ltd has said in a Monday note that at least two-thirds of third-quarter casino gross gaming revenue (GGR) could be at risk as part of the fallout from the current Covid-19 community outbreak in Macau.
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