Coronavirus leads to drop in Macau casino stock value

Sands, Wynn and MGM have seen their stock price drop as the virus outbreak continues to impact Macau visitor numbers .

Macau.- The Coronavirus outbreak has been attributed to a drop in the share price of major Macau casino operators as visitor numbers continue to fall year-on-year during Golden Week.

Sands, Wynn and MGM have seen a fall in share price after visits in the first few days of Golden Week fell more than 60% year-on-year.

According to Gambling News, Las Vegas Sands Corp. saw its stock value fall 6.6% while Wynn Resorts reported a 8.06% dip.

MGM Resorts saw a slight decrease but its wider business is better protected from the virus impacting Macau due to its significant operations in the USA.

In comparison, both Sands and Wynn draw 60% of their revenues from Macau.

Before the pneumonia outbreak, Macau’s local tourism authority had forecast a“3 percent” year-on-year decline in visitor arrivals for the full calendar year 2020 but that looks set to be much worse.