Macau closes all its casino for the first time in more than two years on Monday.
sent shares in gaming companies tumbling as authorities struggle to contain the worst coronavirus outbreak in the world’s biggest gambling hub.
Although many casinos have been effectively closed for the past three weeks with only minimal staffing allowed, the more drastic measures hit investor confidence hard.
Casinos were last shut in Macau in February 2020 for 15 days. The government has previously been hesitant to close casinos due to its mandate to protect jobs. The industry employs most of the population directly and indirectly and accounts for more than 80% of government revenues.
Frustration is mounting at the government’s handling of the outbreak.
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