Other gaming operators have also suffered major declines in the value of their stock amid the Coronavirus outbreak. <\/p>\n\n\n\n\n\n\n\n
Macau.- MGM China<\/strong><\/em>\u2019s share price was tumbled to a four year low as the on-going Coronavirus crisis continues to spook investors.<\/p>\n\n\n\n Yesterday, MGM China\u2019s stock sat at HK$9.14 (\u20ac1.04), having reached as low as HK$8.81 (\u20ac0.91) on Tuesday. <\/p>\n\n\n\n Its Tuesday value was the lowest since 28 February 2016 and 62% down on its all-time high of HK$24.30 (\u20ac2.76) achieved on 14 January 2018. <\/p>\n\n\n\n The decline was also felt by parent company MGM Resorts, whose share price of US$17.53 on Monday was the lowest since 23 March 2016. MGM Resorts closed at US$18.08 on Wednesday.<\/p>\n\n\n\n Wynn Macau fell to a three-year low on Tuesday with a price of HK$14.04 (\u20ac1.59) not seen since 5 March 2017. The decline compares with an all-time high of HK$30.15 (\u20ac3.43) on 8 April 2018 and represents a 29.8% fall in the space of two months from HK$20.65 (\u20ac2,35) on 12 January 2020. <\/p>\n\n\n\n Similarly, parent company Wynn Resorts saw its share price fall to US$80.16 on Wednesday, the lowest since 27 December 2017, before closing at US$80.87.<\/p>\n\n\n\n Stock market pain has been a common theme for Macau\u2019s gaming operators. The industry-wide declines are a result of a massive decrease in visitation to Macau due to the enforcement of measures to contain the spread of Coronavirus, mainly focused on border restrictions. <\/p>\n\n\n\n According to authorities, there were no longer any active cases of COVID-19 in Macau following the release from hospital of the 10th and final confirmed case. <\/p>\n\n\n\n However, operators are forecasting hard times for the industry, with Macau\u2019s GGR numbers tracking 80% down year-on-year during the first eight days of March.<\/p>\n\n\n\n Macau\u2019s GGR fell 87.8% year-on-year in February to MOP$3.10 billion (\u20ac342 million).<\/p>\n","protected":false},"excerpt":{"rendered":" Other gaming operators have also suffered major declines in the value of their stock amid the Coronavirus outbreak.<\/p>\n","protected":false},"author":2,"featured_media":4189,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"MGM China and Wynn Macau, alongside their parent companies MGM Resorts and Wynn Resorts, have experienced significant stock price declines, reaching multi-year lows. This market downturn is directly attributed to the Coronavirus outbreak, which has severely impacted visitation to Macau and resulted in an 80-87.8% year-on-year reduction in Gross Gaming Revenue (GGR) for February and early March. The industry anticipates continued operational challenges for the Macau gaming sector despite the local containment of COVID-19 cases.","focusai_entities":"MGM China, MGM Resorts, Wynn Macau, Wynn Resorts","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), supplier_vendor (0.8), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Recovery Outlook?","query":"What are the projected GGR recovery timelines for Macau, and how are operators adjusting their capital expenditure and operational strategies in response to sustained visitation restrictions?"},{"label":"Impact on Sector Valuation?","query":"How will the prolonged GGR contraction and stock depreciation impact the long-term valuation multiples and potential M&A activity within the Macau gaming sector?"}],"footnotes":""},"categories":[160,16338,163,158],"tags":[7299,257,1618],"class_list":["post-4403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","category-slider-home","tag-coronavirus","tag-macau","tag-mgm-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=4403"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4403\/revisions"}],"predecessor-version":[{"id":777022176,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4403\/revisions\/777022176"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/4189"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=4403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=4403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=4403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}