🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Macau mass tests its population after COVID-19 infections

Published 10/31/2022, 11:03 PM
Updated 10/31/2022, 11:05 PM
© Reuters. FILE PHOTO: An exterior view of MGM Cotai in Macau, China February 13, 2018. REUTERS/Bobby Yip/File Photo
MCHVY
-

HONG KONG (Reuters) - Macau carried out mass testing of its 700,000 residents on Tuesday after the emergence of COVID-19 cases in the past week, including at a major casino that prompted authorities to seal 1,500 people inside.

All residents in the world's biggest gambling hub have been told to take a PCR test on Tuesday and then test themselves daily with rapid antigen tests. The order comes as Typhoon Nalgae approaches southern China with authorities hoping the PCR tests can be completed in one day.

Authorities locked down MGM China (OTC:MCHVY)'s Cotai casino resort on Sunday, with staff and guests ordered to stay inside for three days. It was not clear whether they would be released on Tuesday.

After of a three-month spell of virtually no COVID cases, 11 infections have been found in the past few days and the return of curbs marks a setback for casino executives and investors keen for a recovery in gambling revenues.

© Reuters. FILE PHOTO: An exterior view of MGM Cotai in Macau, China February 13, 2018. REUTERS/Bobby Yip/File Photo

In one bright note for the industry, travelling to Macau became easier for mainland residents from Tuesday with the advent of an online visa system which replaces the need to file applications in person.

Macau, a Chinese special administrative region, has adopted China's zero-COVID policy that seeks to stamp out every outbreak and implements frequent lockdowns. On the mainland this week, authorities forced the closure of Disney's Shanghai resort while a Foxconn plant in Zhengzhou continues to be rocked by workers fleeing the compound over strict COVID restrictions.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.