Macau started a week-long citywide shutdown on Monday in a return to its toughest pandemic restrictions.
All residents are banned from leaving their homes unless they have valid reasons such as buying groceries and taking care of elderly people living separately. Essential services such as water and gas utilities, as well as businesses like supermarkets, pharmacies and hotels, will remain open.
The city reported 59 new cases for Sunday, bringing the total number of infections in the latest outbreak starting June 18 to 1,526. Macau’s repeated rounds of mass testing to weed out transmission as early as possible, and now its shutdown,The shutdown -- the first since an unprecedented 15-day closure in February 2020 -- deals a substantial blow to an industry that accounts for 80 per cent of government income and a large portion of employment.
Still, Macau’s new gaming law requires operators to set aside 5 billion patacas for bidding for new licenses, which would shorten the liquidity runway, Mr Kim said. SJM Holdings would only have one month of liquidity under the extreme scenario and Sands China six months, though Mr Kim said he expects the companies to get extra funding from their parents.
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