The Impact of the Corona Virus on the Gambling Business in the Asian Continent

The impact of the influence of the corona virus on gambling caused a sharp decline in casino sales in Lao Cai, Vietnam as there were no more Chinese customers. Investors have to give many employees unpaid leave to reduce costs.

The casino business experienced the biggest decline in Quang Ninh, Vietnam, with a loss of more than 70 billion Vietnamese money, Vietnamese people actually gave advantages far beyond foreigners. And this is very bad for the Vietnamese economy.

Donaco International Limited (Australia) recently updated the situation of the impact of the coronavirus on the group’s casino operations at the Aristo International Hotel in Lao Cai. Aristo Lao Cai Casino is located near the border with Yunnan Province, China so the main visitors to this casino are customers from mainland China. Even the stakes here are set in RMB / Chinese currency.

However, since reopening after the Chinese New Year holidays in 2020 slot spadegaming, casinos have been in a sluggish state as there are no more Chinese customers.

Thus, due to the coronavirus outbreak in China, the border gate at Lao Cai has restricted the movement of tourists between the two sides. This led to a significant reduction in the number of Chinese visitors to Aristo Lao Cai’s casino, which affected the company’s revenue.

In the first week of February, around 1,374 people came to play cards at this casino, an average of 125 people per day. Compared to the same period in January (when the coronavirus did not break out), the number of players decreased by 75%. Previously, every day this casino welcomed around 501 Agen Casino Online.

The total turnover of transactions through games at this stage also decreased by 82%, from VND 1.050 billion previously to more than VND 190 billion. At present, there is no further information on when the border gates in Lao Cai will return to normal operations.

BACA JUGA:  The reason why you sometimes experience defeat playing online

In response to the aforementioned business downturn, Aristo’s casinos had to lay off many unpaid employees in February, while simultaneously reducing the number of company personnel, delaying many investment projects to save costs.

Aristo Lao Cai is one of the largest operating casinos in Vietnam, owned by Donaco 95%. In the past year, the casino brought Australian owners over VND 339 billion in revenue and over VND 170 billion in profit before interest and tax (EBITDA).

In Southeast Asia, apart from the Lao Cai casino, Donaco also manages the DNA Star Vegas casino in Poipet (Cambodia). The Donaco Business Center said the casino was not affected. However, if the coronavirus continues to spread, it could affect the Thai economy, which is the main source of casino guests in Poipet.

World Survey on the Impact of Corona Virus in the Gambling Sector

Earlier, Bloomberg reported that the coronavirus outbreak was causing a series of casinos in Macau to suffer heavy losses due to the absence of tourists.

On February 6, Wynn Resorts reported that Macau casinos, which account for about 75% of group revenue, are down $ 2.5 million per day.

Melco Resorts & Entertainment Ltd. also announced it would withdraw from a $ 1.2 billion deal to buy a 20% stake in Crown Crown Resorts casino in Australia.

According to Fitch, the coronavirus crisis could cost Macau’s six casino management companies, including Wynn, Melco and Las Vegas Sands, costing an estimated $ 3.3 billion.

The world needs to quickly recover from the effects of the corona virus because it has a very bad impact on all sectors. Following the article about the impact of corona on gambling on the Asian continent, the admin hopes that the world can quickly recover from this very terrible virus.