Rio Hotel and Casino Macau. The casino attracts the local and international crowd. People from Thailand, Indonesia, and Hong Kong form a major crowd of the casino. The casino has an edgier atmosphere. There are lower stack games with an exotic variety of shows. Answer 1 of 16: We are planning a day trip from Hong Kong to Macau to visit a few casinos. We don't want to gamble much but look at the Buildings, Glitz & Glamour etc. The Venetian sounds pretty good. What else is worth a visit on a day trip. The total number of infections in mainland China rose by 3,235 to 20,438, and there were nearly 200 cases elsewhere across 24 countries and China's special administrative regions of Hong Kong.
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New and more strict entry level regulations have applied for Macau. During July it saw 94.5 percent revenue drop. Seeing this, casino companies like Las Vegas Sands (NYSE:LVS) and MGM resorts International (NYSE:MGM) have taken measures. The change got applied from Tuesday.
This is in wake of the increasing COVID cases in Hong Kong. This new spike in cases has pushed Macau casinos to bring about these strict entry rules. The new rules require a person to present a nucleic acid test coronavirus test. This must be done 72 hours back from entry from Hong Kong. The 14 day quarantine rule on- arrival is still in place.
It is being predicted that this new rule can further damage the casino market. About 15 percent of Macau’s gambling revenues are generated from Hong Kong. With the spike of coronavirus in Hong Kong this revenue goes for a toss.
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The secretary of economy and finance in Macau, Lei Wai Nong, urged tourists and visitors to be patient. It was informed that efforts are being taken to work consolidated and closely with Mainland China. This is being done to facilitate gradual opening and lifting of travel restrictions.
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Lei Wai Nong commented about the virus and its impact on business and stated that the pandemic has certainly stretched more than our expectations. Closely studying these changes, experienced stock analysts David and Tom Gardner said that MGM Resorts International doesn’t fit in their top 10 buys. Their top ten list is available online.