Jul 11, 2022 01:15 PM

BUSINESS

Macao Casino Stocks Tumble as City Shuts Down to Curb Covid Outbreak

On July 6, the New Lisboa hotel in Macao was sealed off by authorities after a number of Covid-19 cases were reported. Photo: VCG

On July 6, the New Lisboa hotel in Macao was sealed off by authorities after a number of Covid-19 cases were reported. Photo: VCG

(Bloomberg) — Macao casino shares slumped on Monday as the world’s largest gambling hub shut almost all business premises, including gambling venues, to try and contain its worst ever Covid-19 outbreak.

A Bloomberg gauge of the city’s six licensed casino operators fell as much as 6.3%, and is down 20% this year. Sands China Ltd. led losses, tumbling more than 9%, while Wynn Macao Ltd. fell as much as 7.8%.

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