To combat the "Wuhan virus" spread, Macau has temporarily closed all casinos

In an effort to combat the spread of the "Wuhan virus," which has been responsible for the deaths of more than 420 people in neighboring China as of this writing, all 41 casinos in Macau are reportedly going to be closed down temporarily for a period of 15 days beginning tonight at midnight local time.

According to a report from GGRAsia, the enclave's Economy and Finance Secretary, Lei Wai Nong, made the announcement earlier today. Subsequently, the action was verified by a dispatch from the office of Chief Executive Ho Iat Seng. The temporary shutdown will reportedly also apply to all of the area's movie theaters, nightclubs, arcades, and other so-called "places of amusement," although it will exclude hotels and dining establishments.

Disorders that can be fatal:

The so-called "Wuhan virus" is a variant of the coronavirus that produces pneumonia-like symptoms such as high fevers and coughing. It was first identified in early December in the city of Wuhan, which is located in China. Up to this point, it has been estimated that over 20,700 people in areas as widely apart as the United States, Germany, and the United Kingdom have become infected with it. It has even been responsible for a single death in both the Philippines and Hong Kong.

Oath taken by operators:

According to Lei, each and every one of Macau's six licensed casino companies, which reportedly include the local Sands China Limited and Wynn Macau Limited, which are subordinates of Las Vegas Sands Corporation and Wynn Resorts Limited, respectively, have pledged to continue paying employee salaries throughout the duration of the 15-day closure and will not ask workers to take unpaid leave during this time.

According to reports, Lei issued a statement...

"Only the gambling establishments inside the tourism complex will be closed at this time. Hotels and other establishments that provide food and drink may keep operating as normal because the area is still frequented by tourists and we have enough safety precautions in place.

An increasingly common occurrence:

According to GGRAsia, the decision to temporarily shut down Macau's casinos was made after it was disclosed by local health officials that the city had recorded its tenth verified instance of the so-called "Wuhan virus." The patient is said to be a 59-year-old bus driver who works for SJM Holdings Limited. He is responsible for transporting guests from different border crossings to the properties of Casino Grand Lisboa and Casino Oceanus, which are owned and operated by the local casino operator.

However, Leong Iek Hou from the Macau Health Bureau reportedly sought to assuage any outbreak fears by revealing that the male sufferer is thought to have contracted the potentially fatal illness while making a private visit to China's neighboring Guangdong Province a little more than a week ago. This revelation was reportedly made in an effort to calm any fears of an outbreak.

Border back-track:

In addition, GGRAsia reported that Ho had previously stated that his administration did not intend to "close border checkpoints" because doing so would have a negative impact on the large number of people who live in China but travel into Macau for work. This is because closing the checkpoints would prevent them from entering the territory. It is said that he indicated that these lines were vital to keep the city supplied with food and that he anticipated the peak of the spread of the "Wuhan virus" to occur within the next "seven to ten days."

The enclave is reportedly going to suspend all ferry services between Macau and Hong Kong as of this evening, which is a move that is going to leave the Hong Kong-Zhuhai-Macau Bridge as the only direct way to travel between the two cities. However, Ho now appears to have changed this stance after he reportedly announced that the enclave is going to suspend all ferry services between Macau and Hong Kong as of this evening.

Lower rates of return:

According to reports, the brokerage company Sanford C Bernstein Limited responded to the announcement of the 15-day shutdown by noting that the decision is anticipated to lead to a 50% comparative decline in Macau's first-quarter aggregated gross gaming revenues to around $4.7 billion. The company is said to have further declared that "the first quarter is clearly going to show terrible results," but that the final total might decrease by almost 70% year-on-year to about $2.8 billion "if casinos were to remain closed for the rest of the first quarter."

According to a statement released by Sanford C. Bernstein Limited, it said...

"In response to declining client traffic over the previous few days, casinos have already begun shutting down their restaurants and other facilities," the article states. Assuming that there is just a two-week closure followed by some slow activity picking up again in late February and March, the first quarter might show a decrease in gross gaming revenues of fifty percent from the previous year.

Annual deterioration:

JP Morgan Securities (Asia Pacific) Limited, a competing investment firm, used its own note to forecast an even sharper 75% year-on-year decline in Macau's aggregated gross gaming revenues for February to only roughly $700 million. This prediction was based on the business's analysis of its own data. According to the report, it was also estimated that this may bring the final sum for the entirety of 2020 down 'by around 6%' to somewhere in the neighborhood of the total amount that was reached in 2017 which was $33.2 billion.