The local government’s protection measures against the 2019-nCoV outbreak will have a strong effect on Macau’s cash flow, a report by Fitch Ratings released today (Friday) says.
The cash flow effect is particularly strong concerning the city’s gaming operators. However, the gaming operators are still said to be able to resist this crisis due to their firm credit backgrounds.
According to the statistics released by Macau’s Public Security Force, Macau has recorded, on a daily basis, a decrease of over 80% in the number of visitor arrivals since January 24 (the last day before the beginning of the lunar new year).
Currently, in Macau, there are four US-listed gaming issuers: LVS, Wynn Resorts, MGM Resorts International and Melco Resorts & Entertainment.
The adequate liquidity of these four US issuers is said to be capable of making them withstand the historically high decrease in visitor arrivals, which in turns creates potential FCF effects.
Between January 24 and January 30, Macau recorded less than 150,000 visitor arrivals from mainland China, an…
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