News wrap: 3/26/2020

  1. Macau confirmed one more Covid-19 imported case and identified two other probable cases, taking the city’s total number to 33 (the first 10 discharged). The confirmed case is a male, 27-year-old local resident, returned from New York and arrived Hong Kong Mar 25, and then took a government car direct to hospital due to symptoms including fever. The probable cases are: 1) Female, 37 non-resident worker from Philippines, returned to Macau on Mar 17 via HK, and had been home quarantining, didn’t go out during her home quarantine; and 2) A friend, male, non-resident worker from Philippines, same history. Here is our Covid-19 Tracker, which lists all currently hospitalized cases, with travel history.  
  2. There are 2,076 people staying at quarantine hotels. The 10th hotel was added today: Royal Dragon, with 144 rooms. GOV
  3. Wynn Resorts’ senior executives are foregoing salary this year in return for stock, with CEO Matt Maddox going all-in on the plan. MSN 
  4. Chief Executive Ho Iat Seng has chaired a Talents Development Committee meeting tasked with finding new ways to bring in high-level professionals and entrepreneurs from overseas. The committee conducted a survey last year among seven industries including gaming, hospitality, catering, retail, C&E, finance and construction, which it will use as the basis for formulating policies. GOV
  5. In what it termed an open letter to the casino industry, U.K.-based TCS John Huxley said it had approached Reed Exhibitions, a co-organiser of G2E Asia, asking it to “reconsider” the expo’s revised dates and “defer the show until the fourth quarter or cancel it entirely”. It added: “Unfortunately, these requests have fallen on deaf ears.” Tristan Sjöberg, executive chairman, said: “To go ahead with the show under these circumstances is a ludicrous combination of sheer folly and corporate profiteering.” GGRA 
  6. Hong Kong-listed South Shore Holdings Ltd, promoter The 13 Hotel, says a bank has demanded “immediate payment” of overdue interest amounting to approximately HK$71 million in respect of a term-loan facility. “Based on the current status, it is unlikely that the group will be able to meet this deadline.” GGRA 
  7. Junket operator Guangdong Group and its Guangdong Charity have donated 600,000 surgical masks to the Macau government. IAG 
  8. Local gaming analyst Ben Lee says pent-up demand for casino visits will not kick off in earnest until next year. “This pandemic is totally unprecedented and so it is difficult to predict how and when we might recover to 2019 levels,” said Lee. “Demand for Chinese goods have already been and will continue to be severely impacted by this worldwide calamity and it will be a long time, probably next year, before we can see better economic conditions leading to improved macros [macroeconomic conditions] for gaming in the region.” MDT 
  9. Macau spent MOP 7 billion last year on 13 public enterprises, the Legislative Assembly heard yesterday. More than MOP 320 million went to Macau Television (TDM), which ended up recording a surplus of more than MOP 4 million. CEM, the electricity monopoly, recorded a loss of more than MOP9 million, even with MOP 12 million in government funding. MDN 
  10. CTM will complete the first phase of its 5G network rollout by June, costing MOP 600 million. MDN 
  11. University of Macau has launched an online Career and Internship Fair offering more than 3,500 jobs to  graduating students. MDN
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