Casino Operators in Macao Face Fallout From New Entry Restrictions
After rolling snake eyes in Macao during July with a 94.5% revenue drop, casino companies such as MGM Resorts International (NYSE: MGM) and Las Vegas Sands (NYSE: LVS) seemingly can't catch a break as officials have imposed even more-stringent entry requirements for Macao. As new cases of COVID-19 spike in Hong Kong, Macao's administrators decided to require coronavirus-free nucleic-acid test results from the preceding 72 hours as a condition for entry from Hong Kong. The new restriction on Hong Kong arrivals could reduce casino take even more.
