The number of major hotels in Macau to suspend operations under the impact of the Wuhan Coronavirus and closure of the territory’s casinos rose to eight on Monday as Melco Resorts & Entertainment’s Altira Macau Hotel closed its doors.
The Four Seasons Hotel, St. Regis Macao, Conrad Macao, Sofitel Macau at Ponte 16, the Grand Harbour Hotel, Legend Palace Hotel, and Rocks Hotel previously suspended operations.
The eight hotels that closed have around 3,300 rooms combined.
Aside from the elite hotels, about fifteen small hotels and guesthouses have also boarded up.
The date for the reopening of these hotels is undetermined, waiting on changes in government policies both in Macau and the mainland.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Kenanga Research expects Malaysia's casino operator to rebound more swiftly than its number forecast operators, as border restrictions ease. The sector valuation remains attractive as gaming stocks were still 15-26 percent cheaper than a year ago.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.