The coronavirus pandemic has a huge impact on almost every industry around the globe. One of the hardest hit is the casino industry which is still reeling from the effects of the lockdown imposed by many governments.
The casino project is worth to be an estimated €250 million. The casino is under the management of Macau Legend, a casino operator listed in Hong Kong. Earlier this year, the casino operator said that it is the Cape Verde property will be unveiled this year.
A new timeline
Due to the surge of the coronavirus, many countries around the world were forced to impose strict lockdown protocols in order to contain the spread of the virus. Despite its proximity to China where the virus was first discovered, Macau was able to contain the spread of the virus in the region by implementing lockdown protocols and closing its borders.
Although Macau successfully weathered the spread of the virus, its economy paid a high price. Majority of the region’s income comes from tourists and from various entertainment spots. Due to the lockdown, the local entertainment and casino industry was closed virtually overnight plunging the region’s revenue to almost zero.
Recently, Macau Legend said that it is complying with the lockdown protocols and it is issuing a new timeline for the opening of the casino. Considering the current global situation, the operator is pushing the opening of its new casino in the latter part of 2021.
The delay is completely understandable as construction firms are forced to reduce workforce in order to prevent the spread of the virus. With the absence of a vaccine and cure, the only viable solution for now is to follow strict physical distancing rules. This is not especially helpful in the construction industry that requires thousands of workers working in close contact with each other.
Regardless of the recent setback, Cape Verde Tourism Minister Carlos Santos is still optimistic about the long-term status of the project. He said that investors are still relatively positive about the project despite the hurdles it is currently facing.
A boost to international tourism industry
Macau Legend first showed its intention of building a casino in Cape Verde in 2015. With an investment portfolio amounting to €250 million, it is the largest tourism investment in the country.
According to reports, the casino is a huge undertaking. Once completed, it will occupy an area of 152,700-square meter. It is located in the small island of Santa Maria.
Among the amenities of the casino are retail spaces, a swimming pool, food and beverage facilities, and a 250-room hotel.
Macau Legend is also working on expanding its casino business in Cape Verde. The operator has signed a 25-year gaming license which costs €1.2 million.
The casino also received an exclusive 10-year sports betting and online casino license in the country.
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