All Macau Casinos Will Shut Down Monday As COVID Outbreak Worsens

Nation and State ^ | 07/09/2022 | Tyler Durden

[SeekAndFind]

The world's largest gambling hub, Macau, will shutter almost all casinos and non-essential businesses for a week from Monday as an outbreak of COVID-19 spreads across the autonomous region on the south coast of China.

AFP quotes Macau's top city official Andre Cheong in a press conference Saturday who said the gambling hub would enter "static management" between July 11-18, during which casinos will be closed. Only essential businesses like supermarkets, gas stations, and pharmacies will remain open.

The measure comes as Macau on Saturday reported 71 new COVID infections. A total of 1,374 infections have been recorded since June 18, a low number though high enough for the city to implement mainland China's strict zero-COVID policy.

Last week, authorities closed Macau's most popular casino, the Grand Lisboa, after 13 infections were reported at the casino/resort complex.

Macau is the largest casino hub in the world and trumps Las Vegas. More than half the city's GDP is derived from the gambling industry, and casinos employ 20% of the population. The curb will deal a hard blow to the town because of the economic impact of enforcing harsh lockdowns and mass testing.

The zero-COVID policies (especially locking down Shanghai for two months) have triggered an economic slowdown in the world's second-largest economy after President Xi Jinping made clear weeks ago that "COVID zero" isn't going anywhere. Probabilities are waning that Beijing's 2022 growth target of 5.5% can be achieved because of the lingering threat of new lockdowns.

Last week, Bloomberg reported Beijing has opted to unleash a massive 1.5 trillion yuan ($220 billion) of "special" local bonds in the second half of the year for infrastructure spending to offset the downturn.

And how will Macau gaming stocks react to the news this weekend -- well -- we suspect very negatively following an index of casino stocks in the town has failed to find support around a 2015/16 low which points to more downside.

US casino companies operating in Macau are Wynn Macau Ltd, Sands China Ltd, and MGM China Holdings Ltd, which will likely see lower shares on the news come Monday.

"Beyond the virus, the casino industry's facing other challenges, including a new law that significantly increases government control over operations and Beijing's crackdown on high-rolling gamblers to curb capital outflow," Bloomberg adds.

The lockdown policy of #CCP has devastated Macau's economy, no tourist visit and all shops have to be closed.The channel for Chinese to launder money through casinos in Macau has also been completely closed. #Macau has no future under rule of CCP. #TakeDownTheCCP pic.twitter.com/YFjKs7mOuY — Meeno (澳喜特战旅) (@Meeno17043089) July 9, 2022

Is the lockdown more about COVID or ratcheting down on capital outflows?

[BradyLS]

Flattening the curve again, eh? Y’all know that didn’t work for the 18 months they tried it the first time, right?

[algore]

I heard a rumor that all bath houses and some selected ‘hotspot’ bars were being closed for two weeks to flatten the curve

Oh wait, no I didn’t

[2banana]

BLM riots still good?

[Extremely Extreme Extremist]

You know it, shawty!

[CatOwner]

The BLM riots will be replaced with the pro-abort “protests”.

[lightman]

Since, therefore, the children share flesh and blood, He Himself likewise shared the same things, so that through death He might destroy the one who has the power of death, that is, the devil, and free those who all their lives were held in slavery by the fear of death.

Could Christlessness be the real reason for the irrational fear leading to "COVID-Zero"?

[bray]

Any deaths?

[SeekAndFind]

RE: Any deaths?

No reports of any. But those with compromised immune systems who are infected ( e.g. cancer patients ) are the most vulnerable, but we all knew that from the get go. It’s the same for influenza.

[logi_cal869]

Begs the question once again:

Why are they acting so scared of the virus?

[Smellin Salt]

All because someone had the sniffles.

[Allegra]

The definition of insanity is…?

[Norski]

“Is the lockdown more about COVID or ratcheting down on capital outflows? “

- - - - - - - - - - - - - -

Follow the money. Cui Bono?

Take a look at the list below of the subjects discussed last month. . .

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“Whilst you were distracted by the Queen’s Jubilee, the CEO of Pfizer, Head of NATO & Director of the CIA attended the 68th Bilderberg Meeting
expose-news.com ^ | 6/8/2022 | THE EXPOSÉ
Posted on 6/8/2022, 9:52:01 AM by ransomnote

The 68th Bilderberg Meeting took place between June 2nd and June 5th 2022 in Washington, D.C., USA. Around 120 participants from 21 countries attended. As ever, a diverse group of political leaders and experts from industry, finance, academia, labour and the media were invited.

The key topics for discussion this year were:
1. Geopolitical Realignments
2. NATO Challenges
3. China
4. Indo-Pacific Realignment
5. Sino-US Tech Competition
6. Russia
7. Continuity of Government and the Economy
8. Disruption of the Global Financial System
9. Disinformation
10. Energy Security and Sustainability
11. Post Pandemic Health
12. Fragmentation of Democratic Societies
13. Trade and Deglobalisation
14. Ukraine

Founded in 1954, the Bilderberg Meeting is an annual secretive meeting that we are told is designed to foster dialogue between Europe and North America.
Every year, between 120-140 political leaders and experts from industry, finance, labour, academia and the media are invited to take part in the secretive meeting.
The meetings are held under the Chatham House Rule, which states that participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s) nor any other participant may be revealed.
Thanks to the private nature of the Meeting, the participants take part as individuals rather than in any official capacity and hence are not bound by the conventions of their office or by pre-agreed positions.” . . .

Here are a few of the attendees this year:

Achleitner, Paul M. (DEU), Former Chairman Supervisory Board, Deutsche Bank AG; Treasurer Bilderberg Meetings
Adeyemo, Adewale (USA), Deputy Secretary, Department of The Treasury

Barroso, José Manuel (PRT), Chairman, Goldman Sachs International LLC

Bourla, Albert (USA), Chairman and CEO, Pfizer Inc.

Economy, Elizabeth (USA), Senior Advisor for China, Department of Commerce

Fanusie, Yaya (USA), Adjunct Senior Fellow, Center for a New American Security

Halberstadt, Victor (NLD), Co-Chair Bilderberg Meetings; Professor of Economics, Leiden University

Henry, Mary Kay (USA), International President, Service Employees International Union

Mullen, Michael (USA), Former Chairman of the Joint Chiefs of Staff

Raimondo, Gina M. (USA), Secretary of Commerce

Interesting group, no?
There are others of extreme interest, especially from the Netherlands . . .

[Mark17]

Why are they acting so scared of the virus?

They love to control people.

[skr]

I don’t think China has a BLM problem.

[SaveFerris]

Anthony Fauci’s Covid-19(84).

The gift that keeps on giving.

Like Jelly of the Month Club.

Two weeks to flatten the curve.

Well, more than TWO YEARS AGO.

[JohnnyP]

Macau, good ‘40’s movie with Robert Mitchum and Jane Russel.

[JohnnyP]

Macau, good ‘40’s movie with Robert Mitchum and Jane Russel.

[Gay State Conservative]

Walking into Macau's big casinos you're struck by 1) their amazing size 2) how crowded they are (in the middle of the afternoon) and 3) the choking haze of cigarette smoke.

I've never been a gambler but I found it interesting to check them out.

[mewzilla]

Per this...

https://www.rtp.pt/noticias/mundo/covid-macau-comeca-campanha-de-testagem-massiva_v1418707

It’s not just the casinos. Also all biz deemed non-essential. And anyone caught on the street is threatened with prison.