Macau’s famous casinos continue to take a battering as the infamous coronavirus rages across Asia and threatens the rest of the world. Many of the casinos in the semi-independent Chinese enclave have been closed, or suffered some sort of extended closure, since mid-January and the losses are starting to mount.
Though it’s certain that almost every gambling establishment in Macau is feeling heat from the mysterious, and deadly, virus the MGM Resorts seem to be the first gaming group to acknowledge its actual impact. In a fourth quarter report to investors, CEO Jim Murren was extraordinarily blunt, saying that the virus was costing the company something in the neighborhood of $1.5 million a day. That number seems very high compared to Wynn Resorts, which claims to only be losing $500,000 a day, but numbers can be spun in all sorts of ways.
In a report on the call reported on by the Las Vegas Review-Journal, Murren said, “We are focused on the impacts of the coronavirus We’re absolutely prioritizing the safety of our customers and our employees, but we feel that situation will be managed and the company is well positioned given our diversification as a global company and our balance-sheet strength.”
Overall, MGM Resorts pulls in about 30 percent of its total revenue from its Macau operations. The Las Vegas RJ also reported that the total cost of the Macau coronavirus closures is something in the neighborhood of $100 million a day.
As of this writing, more than 60,000 cases of coronavirus have been reported worldwide and 1,384 people have died from the virus.