Coronavirus Spreads – Casinos Around the World Affected

If you thought the Coronavirus was just going to blow over in a week, think again. As of early March, the COVID-19 virus has spread to dozens of countries, infected almost 100,000 people from Seoul to Sicily, and has caused the largest global stock market selloff since the financial crisis in 2008.

As fear begins to take hold of nations around the world, it’s no surprise that entertainment venues such as casinos are feeling the pinch. From Macau to Singapore, to Las Vegas, casinos are reporting a drop in visitors, and the publicly listed casino stocks are a long way off their yearly highs.

US casinos haven’t taken too serious a beating yet. The worst-hit seems to be Wynn Resorts, which is down over 3% at the time of writing. However, the Coronavirus is rapidly spreading in the United States, so it remains to be seen if further financial pain is in store for casino stocks.

What About Macau?

Macau is the Las Vegas of the east. Its main clients are gamblers from the Chinese mainland. With large swathes of China on lockdown and no sign of a Coronavirus vaccine, it would be impossible for Macau casinos to be operating at full capacity.

The latest reports show that Macau casinos are open after a two-week closure, but that gamblers must wear masks and numbers are down. This is no surprise considering the hysteria news of the virus is causing around the world.

What Will Happen Next?

It’s impossible to say for sure, but the good news is that China seems to have a grip on the coronavirus. Their containment measures were draconian, involving locking residents in their homes and apartment blocks, but the reported numbers of new cases have fallen dramatically, so it seems to have worked.

However, new cases are emerging all over the world and are exploding in South Korea, Italy, and Iran. While we doubt that casinos will be affected by what happens in the Islamic Republic, there are several prominent casino resorts in Italy, such as St. Vincents, and those are bound to take a hit as governments warn their citizens not to travel to the Mediterranean nation.

This fallout will be felt in casinos and resorts all across Europe as the virus spreads to the UK, France, and Germany.

Why Are People Avoiding Casinos?

There seem to be three primary reasons.

• The first is that casinos are popular with tourists, and there’s no telling where anyone in a casino may have traveled from. There is evidence that infected persons can spread the virus before symptoms show, and it only takes one to enter a crowded casino for dozens of new cases to emerge.

• The second is that one of the primary ways that Coronavirus spreads is via touch. Imagine that an infected person sneezes and then touches a chip, dice, card, or the edge of a blackjack table. Many other people will touch these same objects and surfaces.

• The third reason is that many people are beginning to stockpile food, medicine, and other non-perishables for fear of what quarantines may mean. Add to this the battering that global financial markets took in late February, and spending on casino games probably comes fairly far down the list of priorities for many right now.

There may be other reasons, but in any case, casinos are essentially small-scale public gatherings, so more cautious people are avoiding them. Summary It’s strongly advisable that you avoid going to casinos in areas with significant outbreaks. It’s almost certain that Coronavirus is now uncontainable, so that will probably soon include most cities around the world. If you do visit a casino, wear an N95 mask, and use hand sanitizer frequently. Avoid touching your eyes and keep your distance from anyone who appears to have cold or flu-like symptoms. If you absolutely must gamble during this outbreak, it may be best to do so online instead. With all of this said, it’s important not to panic about the COVID-19 outbreak. It appears to have a 2% mortality rate, which gives you 98% odds of being just fine after a brief illness.