Gambling and Sports Betting News February 11, 2020: Coronavirus Shutdown Costing Macao’s Gaming Industry $100 Million a Day
Here are today's headlines in the world of gambling and sports betting as they happen - Tuesday February 11, 2020.
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Coronavirus Shutdown Costing Macao’s Gaming Industry $100 Million a Day
Macao, which has 10 confirmed cases of the illness, isn’t on lockdown like cities across the border in mainland China. But the former Portuguese enclave has ground to a virtual standstill ever since the government took the unprecedented measure last week of closing the territory’s 41 casinos for half a month.
Hotels are locking their doors. Popular live shows are suspended. And the city’s notoriously seedy spas are shuttered, unheard of even during the worst typhoons.
More significantly, about $100 million is being lost each day by the gaming industry, which directly employs one-fifth of Macao’s labor force and provides the government with 85% of its tax revenue.
