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2020 has been a hectic year for the Crown Resorts as they seem to be facing challenge after challenge on their daily operations. But, let us also get to look at how the Reopening of their Melbourne branch has been moved by six weeks.
Prior to that, the casino has been reported to have lost most of their high rollers after the Chinese ban on travelling outside for casino gambling. Additionally, The Star now has a monopoly over all the poker machines in Australia.
With all that happening, the casino now has to deal with its services being put on hold in Melbourne. The casino will have to be shut down for the next 6 weeks until the officials loosen lockdown rules on non-essentials.
Why the Crown Melbourne is Postponing Reopening
There has been a new outbreak of COVID 19 in Melbourne which has made it a hotspot for this deadly virus. Therefore, new measures have been put in place to make sure that the disease does not spread to the rest of Australia.
According to research done, there have 191 new cases of the coronavirus in the state of Victoria. Therefore, the officials of the state had to put in even stricter lockdown measures for their state to keep the contagious disease from spreading. And part of the casualties involves the Crown Melbourne resorts.
Crown Resort Struggling to Stay Above the Line
There is so much adjustment that the crown casino resorts has to make when it comes to its casino gaming. Therefore, the revenue will not be the same as it was before which explains why the stocks of the company have been quite low.
Shares of the Crown resorts have just below AU$10 and they hit as low as AU$6 in March. On top of that, it has to make sure that it finishes its new high roller project which is worth over AU$2 billion. Hopefully, this will not strain the casino and force it into bankruptcy.
The Star Group Still Doing Well Amidst the Lockdown
The Star group seems to be thriving even in the light of the lockdown. For example, it announced its coalition with Flutter early March. And, it has not stopped signing deals since then, which means that Crown Resorts is lagging behind.
Additionally, even if it reopens, Crown Melbourne will still not be able to operate poker machines. And, poker machines are the most popular gaming options when in the Australian gambling industry.
The New COVID Cases in Australia
As of now, Victoria has recorded 134 new COVID 19 cases and is putting in new restriction measures to avoid it from spreading to other states in Australia. And, most of the cases are believed to be coming from outside of Australia.
While most countries are still at stage three of the lockdown, Victoria is now being forced to be a lot stricter and implement even more lockdown rules. New South Wales still tops the charts for the most confirmed cases of the deadly virus.
| Countries | Cases | Recoveries |
| New South Wales | 3208 | 2058 |
| Victoria | 3444 | 2986 |
| Queensland | 1069 | 1056 |
| Western Australia | 624 | 602 |
Even though New South Wales still has the most cases, it has fewer new cases right now. Therefore, if Victoria keeps on recording new cases, it is going to be on top of the list soon.