March 6: 6 takeaways from this week in gaming

Take a listen to a recap of this week’s biggest stories and get a sneak peek at what’s coming next week.

In this episode:

Travel to US expected to fall 6% amid coronavirus outbreak

Inbound travel to the U.S. is expected to fall 6 percent over the next three months compared to the same period in 2019 amid the coronavirus outbreak, according to a Tuesday report from the U.S. Travel Association.

The expected 6 percent fall would be the largest decline in international inbound travel since the Great Recession.

Las Vegas casino shares tumbling as coronavirus fears grip markets

Local casino operators saw shares fall as much as 14 percent at close. The Dow Jones Industrial Average dropped 3.6 percent, erasing much of the Wednesday’s gains. Meanwhile, a new report showed near-term Strip room rates are continuing to fall.

Macao casino coronavirus closures result in 87.8% decline in revenue

The massive decline is being attributed to the government’s 15-day closure of all casinos in the market in an effort to stem the spread of the coronavirus.

It was the steepest revenue downturn in the market’s history. The 15-day closure was unprecedented, although marketwide closures have occurred for one or two days in the aftermath of typhoons

Conventions cancelling in Las Vegas, citing coronavirus fears

While the upcoming Adobe, ASEAN, Atmosphere, and NXT conferences have been canceled due to the spread of coronavirus, many other upcoming conferences in Las Vegas are still scheduled as planned.

MGM plans $1.25B share buyback

The casino operator had originally announced plans to repurchase shares Feb. 13. But the company released a statement Saturday saying it had lowered the price it would offer. This creates an opportunity for MGM to buy more stock than expected and could lead to a favorable return for the casino operator, analysts say.

Australian slot machine manufacturer may enter Nevada market

Board members interviewed nine representatives of the companies, three times more than in most licensing hearings.