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Coronavirus leads to drop in Macau casino stock value

Coronavirus leads to drop in Macau casino stock value

Sands, Wynn and MGM have seen their stock price drop as the virus outbreak continues to impact Macau visitor numbers .

Macau.- The Coronavirus outbreak has been attributed to a drop in the share price of major Macau casino operators as visitor numbers continue to fall year-on-year during Golden Week.

Sands, Wynn and MGM have seen a fall in share price after visits in the first few days of Golden Week fell more than 60% year-on-year.

According to Gambling News, Las Vegas Sands Corp. saw its stock value fall 6.6% while Wynn Resorts reported a 8.06% dip.

MGM Resorts saw a slight decrease but its wider business is better protected from the virus impacting Macau due to its significant operations in the USA.

In comparison, both Sands and Wynn draw 60% of their revenues from Macau.

Before the pneumonia outbreak, Macau’s local tourism authority had forecast a“3 percent” year-on-year decline in visitor arrivals for the full calendar year 2020 but that looks set to be much worse.

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