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EPL Seeks June Restart As Players Face Backlash Over Pay Refusal

The English Premier League could restart as early as June, but only under “strictly-controlled conditions,” with games being played behind closed doors.

Wealthy EPL teams have been criticized for furloughing non-playing staff instead of forcing players to take a pay cut. (Image: Premier League)

The Daily Mirror reports that EPL chiefs met with government health officials and representatives of the league’s 20 teams in a bid to hammer out an exit strategy from lockdown for England’s soccer top tier.

Officials reached a “tentative agreement” to proceed in June, provided the UK’s current measures to stem the spread of COVID-19 are successful.

Amid news that the country’s Prime Minister, Boris Johnson, was hospitalized Sunday with the coronavirus before being moved to intensive care on Monday, cases are expected to peak in Britain in the next two weeks. And it’s the hoped that the growth in new cases will gradually decline into the warmer months.

£4.35 Billion in Broadcasting Rights

That’s what the EPL hopes too, and it’s under significant pressure to finish the current season. Overseas media partners have paid a cumulative £4.35 billion ($5.32 billion) for the broadcast rights to the 2019-22 seasons, and could potentially sue for vast sums if the league doesn’t deliver its quota of games.

Meanwhile, European soccer’s governing body, UEFA, has said that leagues that terminate their seasons early could forfeit lucrative Champions League and Europa League places.

The sports betting sector in the UK was worth more than £5 billion ($6.1 billion) in the fiscal year 2019, with the lion’s share devoted to soccer.

According to one 2015 study, up to $1 billion is bet on each individual EPL game globally, including black markets. There are typically ten games per week.

Last month, the UK soccer’s governing body, the Football Association (FA), ruled the season could be suspended “indefinitely,” paving the way for continuation into the summer. Under normal circumstances, all EPL games must be wrapped up by June 1 to make way for international matches.

This is also the date that player contracts can expire. But with international tournaments bumped to next summer, the FA has temporarily scrapped the June 1 rule, and has permitted players to sign temporary contract extensions which will let them continue playing into the summer.

Pay Cut Row

Meanwhile, some of the wealthiest EPL clubs are under fire for furloughing non-playing staff, leaving them reliant on the UK’s Coronavirus Job Retention Scheme. Under the program, the government has pledged to pay 80 percent of wages up to £2,500 ($3,060 USD) for staff who are placed on temporary leave by companies during the crisis

But many believe that it’s the EPL’s excessively remunerated soccer stars who should be taking the pay cut to shoulder the economic burden on non-playing staff.

The teams have suggested all EPL players accept a 30 percent wage slash during the crisis. But this was rejected by the players union over the weekend.

The Professional Footballers’ Association (PFA) said the proposal would be “detrimental” to the publicly funded National Health Service (NHS) because it would result in losses over £200 million ($245 million USD) in income taxes for the government.

The situation is rapidly turning into a PR disaster for the EPL. That’s in contrast to Spain’s equally high-profile La Liga, whose stars have readily agreed to a 70 percent pay cut.

Julian Knight, the chair of the UK government’s Digital, Culture, Media and Sport committee, said it exposed “the crazy economics in English football and the moral vacuum at its centre.”

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Caesars, MGM Could Put the Hurt on Short Sellers if Bulls Seize Control of Market

Broadly speaking, shorting stocks is a winning strategy to this point in 2020, and nowhere is that more true than the travel and leisure industry, a group beset by savage declines at the hands of the coronavirus pandemic.

If markets rally, Caesars and MGM short sellers could feel some pain. (Image: MarketWatch)

With COVID-19 punishing the gaming industry from the East Coast to Las Vegas to Macau, forcing temporary closures and, in some cases, tens of thousands of lost jobs, bearish traders eagerly shorted shares of casino operators, including Caesars Entertainment (NASDAQ:CZR) and MGM Resorts International (NYSE:MGM).

Monday’s seven percent gain by the S&P 500 could prompt some short sellers to consider exiting bets on gaming names, stoking further upside because, when a short is covered, the trader must buy shares to close the position. If markets continue rallying, forcing bearish traders to cover – a phenomenon known as a short squeeze – Caesars and MGM could be two of the biggest beneficiaries.

With the market rallying today, we may see short sellers buying shares in the following stocks and pushing stock prices even higher than if only long buying was taking place in the name,” said S3 Partners Managing Director Ihor Dusaniwsky in a note obtained by Casino.org today. “Sectors which were hit hard in the market downturn are represented in the top 25, and we see cruise lines and casinos (MGM & CZR) as some of the top short buying targets during a rally.”

Entering Monday, the Bellagio operator was the fourth on S3’s list, as ranked by a percentage of profits for short sellers, while Caesars was number 14.

Not Profits Until They Take ‘Em

One of the more famous Wall Street adages is “profits aren’t profits until you take them.” In the case of the bearish bets on MGM and Caesars, traders were sitting on substantial unrealized gains coming into Monday.

The average short interest in MGM since March was nearly $860 million, while total net profit for short sellers was $886.6 million, according to S3 data. For Caesars, those figures are $677.6 million and $543.4 million, respectively.

“If these short sellers see their sizable unrealized profits begin to get eaten away by a rebounding stock market, there is a good chance that they will start buying back shares to lock in their remaining profits,” said Dusaniwsky. “This would provide an additional boost to the stock’s price, as they trade alongside long buyers on the bid side of the market.”

Shorting those names has been a winning bet this year, as both are being pounded due to temporary closures in Nevada, as well as at all of their regional properties.

Reasons for Shorts to Worry

Caesars and MGM are down 48.46 percent and 61.20 percent, respectively, year-to-date, and while it could take awhile for the stocks to reclaim prior highs, they got off to a good start today. On heavy volume, the Mandalay Bay operator surged 22 percent, while Caesars jumped 11.62 percent.

With gaming equities battered this year, any bit of good news could spark substantial near-term upside in the names, chastening bearish traders in the process.

“With the domestic stock markets down significantly in 2020, the vast majority of short trades are ‘in the money’, and diligent traders are preparing exit strategies for their profitable short positions when the markets begin to trend upwards,” said Dusaniwsky.

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UFC 249 Pits Tony Ferguson vs. Justin Gaethje, Dana White Responds to Sex Tape Extortion Lawsuit

UFC 249, scheduled for April 18 between Khabib Nurmagomedov and Tony Ferguson, is “100 percent.” But according to UFC President Dana White, Khabib is being replaced by Justin Gaethje because of the coronavirus pandemic.

UFC 249 will go on, but with a new fighter. Meanwhile, UFC President Dana White is fighting an extortion scandal. (Image: Gregory Payan/AP)

Nurmagomedov is in his native Russia, and with his ability to travel to the United States currently restricted, the UFC is moving forward with a replacement. White said Ferguson and Gaethje have both signed on for the fight.

The fight is signed and is 100 percent ON LIVE on ESPN somewhere on EARTH!!!!” White tweeted today. Undercard matches will be on ESPN, with the main card available only on pay-per-view via ESPN+.

Both Ferguson (25-3) and Gaethje (21-2) are coming off victories against Donald Cerrone. Ferguson beat “Cowboy” by TKO (doctor stoppage) last June, while Gaethje beat Cerrone last September by TKO (punches).

FanDuel has Ferguson favored at -152, and Gaethje the underdog at +130. A $100 bet respectively nets $65.79 and $130.

Location Unavailable

UFC 249 was originally planned for the Barclay’s Center in Brooklyn, but was canceled by COVID-19. New York has by far the most coronavirus cases in the US, the state reporting nearly 130,700 positive test results. A total of 4,758 New Yorkers have died from the respiratory disease.

White is reportedly targeting a location on the west coast of the United States to host UFC 249. However, it’s likely that it will go on without fans, as more than 40 states have urged residents to stay at home, and large gatherings remain prohibited across the country.

Washington, Oregon, California, Nevada, and Arizona all have stay-at-home orders from their governors.

White Lawsuit

Dana White was formally named last Friday as the extortion victim in a 2015 case that involved a high-profile Las Vegas business mogul.

Ernest Ramos pleaded guilty in October 2015 of trying to blackmail a then-unnamed married man for $200,000 in exchange for not releasing a sex tape of him with a Las Vegas stripper. Ramos was sentenced to 366 days in prison.

Now free, Ramos is suing White on grounds that he only pleaded guilty after reaching a deal with White that promised to pay him $450,000 to not disclose it was the UFC boss in the sex tape video.

I just found out that a b**** lawsuit was filed against me yesterday,” White said. “This guy went to federal prison for trying to extort me over five years ago.”

White continued, “Now he’s hired a lawyer, who is also a convicted felon, and he’s trying to extort me again for $10 million. He got no money from me last time and he won’t be getting any money from me this time.”

“I look forward to the court dismissing this quickly so I can get rid of these scumbags forever,” White concluded.

The Las Vegas stripper in the video was Ramos’ girlfriend. The Las Vegas Review-Journal reported that White allegedly paid the woman $10,000 per visit to dance and have sex with him. The stripper filmed the sex tape without White’s knowledge on her cell phone.

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Nevada Unemployment Benefits Delayed, Casino Workers Told They Will Eventually Be Paid

The Nevada unemployment benefits system is overloaded by the COVID-19 pandemic layoffs that have brought the state economy to a standstill. And patience is wearing thin for many of the 170,596 claimants who have filed over the past three weeks.

The coronavirus pandemic has put hundreds of thousands of Nevadans out of work. (Image: Ethan Miller/Getty)

Processing the unemployment claims is resulting in lengthy time periods before qualified applicants are receiving payments. The Nevada Department of Employment, Training and Rehabilitation (DETR) says it is unable to advise those seeking unemployment pay as to when money might be received.

The unemployment website and phone system is a joke,” tweeted Lisa Roe. “The unemployed of Nevada need help now. There is no more time to waste.”

Numerous social media users are also voicing their frustrations in trying to file. Nevada Gov. Steve Sisolak (D) ordered the closure of all 219 casinos in the state on March 17. The directive is impacting some 206,000 gaming industry workers.

For the first time in my life I’m collecting unemployment. I am furloughed from my casino and should have my job back. In the meantime, it would be nice to be able to log on to the Nevada unemployment website, but of course Sisolak can’t even get that working,” Vegas4life tweeted.

After Sisolak said Monday that he “had a productive two-hour phone call” with Vice President Mike Pence, more critics fired back.

I’ve had a non-productive 3+ hours and counting phone call with unemployment insurance,” said one Las Vegas resident. Another chimed in, “How about fixing the unemployment problem? Casino workers have been trying to get our unemployment for two weeks and it’s busy all day.”

Nevada has 1,953 coronavirus positive cases, and 46 residents have died from the disease.

Time Running Out

Many casinos offered their employees one or two weeks of pay following Sisolak’s order to suspend operations. Those two weeks have come and gone, forcing tens of thousands of workers to sit at home with no incoming money.

While workers at Las Vegas Sands and Wynn Resorts are being paid through at least May 15, billionaire Sands owner Sheldon Adelson explaining it is his company’s obligation to “maximize the number of employees and their families that we can help,” casino workers at other companies are not so fortunate.

The $2 trillion CARES Act stimulus package signed by President Donald Trump last month increases state unemployment benefits by $600 a week through July 31, 2020. But DETR says it hasn’t received those funds yet, the website listing the component’s status as “awaiting federal guidance.”

Sisolak’s executive order suspended all evictions and foreclosures in the state for as long as Nevada remains in a “state of emergency.” MGM Resorts, the largest employer in Nevada, says 60,000 of its employees have been furloughed.

Backpay Guaranteed

Speaking with the Las Vegas Review-Journal, DETR spokesperson Rosa Mendez says qualified unemployment applicants will receive pay from when they first became eligible.

“Claims will be paid without waiting seven days for administrative review to ensure the most prompt payment of claims possible,” Mendez explained.

Nevada casinos will remain closed through the end of the month, per Sisolak’s order. One thing is for certain, and that is the coronavirus economic impact on Nevada, a state that relies on tourism more than any other, will be felt for many months – and possibly years – to come.

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Former Revel Atlantic City Casino Owner Glenn Straub Facing 15 Years in Prison, Case Delayed

A Florida businessman who once owned Atlantic City’s Ocean Casino Resort property is facing up to 15 years in prison, but the lawsuit against him is being delayed by the COVID-19 pandemic.

If convicted on the charges he’s facing, former Atlantic City casino owner Glenn Straub could be sentenced to prison until he’s 88 years old. (Image: Palm Beach County Sheriff’s Office/Casino.org)

In January, 73-year-old Glenn Straub turned himself in to the Palm Beach County Sheriff’s Office after learning of his impending arrest. Straub is charged on one count of grand theft larceny of less than $100,000, and two counts of filing fraudulent liens.

Grand theft larceny is a second-degree felony, while filing a fraudulent lien is a third-degree felony.

Straub acquired the bankrupt former $2.4 billion Revel Atlantic City casino resort in 2015 for $82 million. He endured a contentious relationship with local government officials, once saying that when you come to New Jersey, business owners “have to take all your clothes off” because “they don’t know how to not rape you.”

Straub never reopened the Boardwalk property, and sold it to Bruce Deifik in January 2018 for $200 million. Deifik rebranded it Ocean Casino Resort, but died in a car accident in April of 2019 – only adding to the “Revel Curse” fable.

Straub Accusations

Michael Satz, Florida state attorney for the 17th Judicial Circuit, brought the charges against Straub.

Satz contends that Straub committed the charges he’s accused of in retaliation against his former girlfriend, 35-year-old Jessica Nicodemo. The lawsuit argues Straub directed his company Palm Beach Polo to file fraudulent liens on her two properties as revenge after she decided to end their relationship.

Nicodemo sued Straub in 2018, claiming the man 38 years her senior demanded $77,000 from her for work the company did in home improvements to her properties. She says Straub also physically threatened her.

Glenn Straub told Jessica in a phone call recorded by the Palm Beach County Sheriff’s Office that he filed the liens to control her,” Nicodemo’s attorney Elizabeth Parker told the Palm Beach Post. “He didn’t want her to move away, and most importantly, that she didn’t owe him any money.”

Parker added, “Despite his admissions, and the overwhelming evidence showing the liens and claims were fraudulent, Mr. Straub has used his money and power to try to destroy Jessica.”

After turning himself in back in January, Straub was released on $11,000 bail. He said exiting the sheriff’s office, “It wasn’t that bad, but it’s not what you want to do every day.”

Case Postponed

Straub was born in West Virginia and inherited a mining business that made him extremely wealthy – some estimating him to be a billionaire. He admits, however, that he’s cheap, and will fly Spirit Airlines to save money.

He’s best known for buying and developing the 2,250-acre Palm Beach Polo Golf and Country Club in Wellington, Florida. But Straub could be put behind bars should the State of Florida win its case and a jury find him guilty on the three charges.

His case has been scheduled and postponed three times because of the coronavirus. The disposition is now set for May 19.

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Rhode Island’s Twin River Casino Is New Location for Rapid COVID-19 Test

CVS Health is opening a rapid coronavirus testing site Monday at the shuttered Twin River Casino in Lincoln, Rhode Island. The drive-through site can do 1,000 tests daily.

Dr. Troyen Brennan, executive vice president and chief medical officer of CVS Health, said the typical patient will get COVID-19 results in about 15 minutes from a drive-through rapid test site which opened at Twin River Casino in Lincoln, Rhode Island. (Image: YouTube)

The Woonsocket, Rhode Island-based pharmaceutical and health-care company will provide free Abbott ID NOW tests at the gaming property’s large parking lot. Positive results can be provided in five minutes and negative results in 13 minutes. The 1,000 tests daily is significantly higher than Rhode Island’s prior testing capacity.

The casino site was selected after careful review. CVS collaborated with state officials to select a location.

We worked with state government officials to identify sites that would be easily accessible and able to accommodate the flow of traffic and the space required for testing,” Christine Cramer, a spokeswoman for CVS, told Casino.org.

“In working with the state of Rhode Island, they identified the large parking lot at the Twin River Casino in Lincoln, Rhode Island as a suitable location.”

She further explained that CVS applied what it learned from the pilot COVID-19 testing site opened last month in Shrewsbury, Massachusetts.

Rhode Island Moves Closer to Reopening Economy

Last month, Rhode Island’s Twin River casinos in Tiverton and Lincoln were shuttered until further notice to help minimize risk from the expanding coronavirus outbreak. The decision to extend the March 13 closure from a week to an indefinite amount of time was made by Rhode Island Lottery Director Gerald Aubin.

Today marks a giant leap forward in our efforts to combat this virus,” Rhode Island Gov. Gina Raimondo said in a statement on Monday. “Making testing rapid and readily available is the key to slowly reopening our economy, and today we are one step closer to that goal.”

Georgia is also offering a rapid results test via CVS at Georgia Tech. Testing is by appointment and health-care professionals from CVS’s MinuteClinic oversee tests.

Testing in Rhode Island and Georgia is in large parking lots that are easily accessible and able to accommodate multiple lanes of cars at one time, CVS explained in a statement.

“The average person will get their results in about 15 minutes after they’ve had their test,” Dr. Troyen Brennan, executive vice president and chief medical officer of CVS Health, said in the statement. “CVS Health is uniquely positioned to play a vital role in helping support both local communities and the overall health care system in addressing the COVID-19 pandemic.”

Civil Liberties Concerns over Rhode Island Screening

Rhode Island was the subject of civil liberties’ criticism when state troopers and Rhode Island National Guard soldiers started pulling over cars with New York state license plates to interrogate drivers and passengers. New York is the epicenter of the US outbreak.

National Guard members also knocked on doors in coastal communities to seek individuals who were recently in New York. Any individuals who had been out of state were ordered to self-quarantine for two weeks. Visitors also had to provide contact information.

More recently, anyone entering Rhode Island from another state for reasons other than work is supposed to self-quarantine for two weeks.

As of early Monday, Rhode Island has seen 25 fatal cases of coronavirus. The total number of cases in Rhode Island is 922.

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Virtual Grand National Watched by 4.8 Million in UK, £2.6 Million Raised for COVID-19 Fight

More than 4.8 million UK viewers tuned in Saturday to watch the Virtual Grand National, a computer-generated version of the world’s most famous steeplechase. That’s roughly half the size of the audience that would have been expected to watch the real thing, which had been scheduled take place on Saturday, until it, too, was canceled last month.

The Virtual Grand National offered bettors some light relief in the midst of a sporting drought on Saturday. (Image: ITV)

Potters Corner denied Tiger Roll a record third consecutive Grand National victory – at least in this alternate version – in a thrilling race that showcased the potential for virtual sports to fill the current betting void.

The race was, at one point, trending second worldwide on Twitter.

Bookmakers have agreed to donate all their profits from the event — which totaled £2.6 million ($3.2 million) — to the UK’s National Health Service (NHS) to help fight the spread of the pandemic.

Accurate Predictor

The Virtual Grand National has been running since 2017, but was thrust into the limelight this year by the widespread cancellation of sports. It uses algorithms to weigh factors like age, weight, form, weather, and ground to predict probable finishing positions, and then animates the race using ultra-high-definition CGI technology.

The simulation has, in the past, proved to be relatively accurate in forecasting one of the most unpredictable horse races in the world. In 2018, it correctly called Tiger Roll’s first Grand National win, while also predicting three of the first five finishers.

Many at home were rooting for — and betting on — favorite Tiger Roll. But had the Irish-bred thoroughbred won the Virtual Grand National, the NHS would likely have received next to nothing.

Bookmakers said they had warned organizers before the race that profits were likely to be negligible if the favorite won. Luckily, eventual winner Potters Corner was a more bookie-friendly 18/1.

All bookies offered the same restricted betting service, with the maximum bet on the race capped at £10. 

Rise of Virtual Sports

“The average stake per bet worked out at just over £2 ($2.46), which showed this virtual National really hit the spot in terms of providing a fun, one-off betting opportunity for so many people. And, most importantly, all those small bets added up to a fantastic donation to NHS Charities Together,” a spokesperson for Coral told The Racing Post. “We are all seeing on a daily basis the amazing work the NHS are doing right now, so it’s entirely fitting that they are the real winners of this year’s virtual Grand National.”

Bookmakers have been offering bets for several years on virtual sports, which are becoming increasingly sophisticated, and these types of markets are likely to see an upsurge in popularity — at least while regular sports remain canceled.

“Virtual Racing has predominantly been used as an added feature, providing a continual stream of betting content during quiet periods or leading up to some of the biggest sporting events,” Steve Rogers, COO of Virtual Sports Inspired, the company behind the Virtual Grand National, told Yahoo Finance. “However, this year’s race has proven Virtual Sports are realistic enough to take center stage.”

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Macau Operators Need Daily Revenue of $38 Million to Break Even This Year, According to Analysts

Macau’s six concessionaires can likely break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis this year with $38.18 million in daily revenue. But getting to cash flow breakeven will be trickier, said JPMorgan analysts.

Macau operators will need some help to break even this year, according to JPMorgan analysts. (Image: Bloomberg)

The bank’s research team covering Asia-Pacific gaming projects $49.45 million in daily turnover as the minimum needed for operators in the world’s largest casino hub to reach cash flow breakeven in 2020. That could be an ambitious goal considering that February and March gross gaming revenue (GGR) there slumped nearly 88 percent and almost 80 percent, respectively.

The industry can stay EBITDA [earnings before interest, taxation, depreciation and amortisation] breakeven at the gross gaming revenue run-rate of around MOP300 million [US$37.6 million] per day, and cash-flow breakeven (post interest cost and maintenance capex) at MOP400-million levels ($50 million),” according to JPMorgan.

Getting to those levels is the issue for Macau operators, because with strict travel controls still in place stemming from the coronvirus, April GGR is a mere trickle, with some banks estimating a scant $8.76 million per day in turnover to this point in the month.

Surviving Not Yet an Issue

With turnover non-existent in the US for the time being and activity slumping in Macau, analysts are evaluating the cash positions of gaming companies, assessing how long the firms can survive in a zero or near zero-revenue environments.

On the peninsula, the cash outlook is mostly sturdy, with JPMorgan noting Galaxy Entertainment can survive six years with its $6.7 billion in cash, assuming a no-revenue setting lingers longer than expected. That forecast moves to seven years if the company postpones a two-phase expansion at Galaxy Macau.

Sands China, the Macau arm of Las Vegas Sands (NYSE:LVS) has $4.5 billion in liquidity, while SJM Holdings has $3.3 billion.

“Against their respective cash-burn, Galaxy has enough cash to survive 6+ years of no revenue (or 5 years even if it finishes Phase 3), SJM has four years (or three years even if it finishes Grand Lisboa Palace), Sands/Melco/Wynn have about two years, and MGM over a year,” notes the JPMorgan analysts.

Lenders Playing Ball

Concessionaires in the Special Administrative Region (SAR) are finding some relief from lenders that are relaxing coverage and interest ratio provisions, which could help borrowers avert default should it take years for business to return to normal.

Banks working with MGM China and Sands China obliged those companies’ request for looser covenant structures, and analysts expect the same will be true for Wynn Macau should it make a similar request of its creditors.

Most Macau operators won’t come close to breaching debt covenants for at least a year, a forecast based on the premise banks won’t provide the companies with some breathing room.

“To put it simply, investors need not worry about covenant breach for at least a year of ‘zero revenues,’” said the JPMorgan analysts.

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Three Golf Majors Rescheduled, Masters Set for November, Open Championship Canceled

The 2020 Masters, originally set for this week at Augusta National in Georgia, will be held November 9-15. It’s one of three golf majors being postponed by the COVID-19 pandemic.

As of now, the Masters will be played in 2020. Originally planned for this week, the major is now scheduled for November. (Image: ESPN)

Golf’s officiating bodies, including the R&A, USGA, PGA Tour, PGA of America, Augusta National Golf Club, LPGA Tour, and European Tour, released revised schedules Monday. The most important announcements were in regards to the 2020 majors.

                                          Original Date          New Date

Masters                             April 6-12                November 9-15

PGA Championship          May 11-17               August 3-9

US Open                           June 15-21              September 14-20

Open Championship       July 12-19                Canceled

“In recent weeks, the global golf community has come together to collectively put forward a calendar of events that will, we hope, serve to entertain and inspire golf fans around the world. We are grateful to our respective partners, sponsors, and players who have allowed us to make decisions – some of them, very tough decisions – in order to move the game and the industry forward,” read a joint statement from the golf bodies.

The release added, “This is a difficult and challenging time for everyone coping with the effects of this pandemic. We remain very mindful of the obstacles ahead, and each organization will continue to follow the guidance of the leading public health authorities, conducting competitions only if it is safe and responsible to do so.”

Across the Board Favorite

World No. 1 Rory McIlroy is the betting favorite for all three of the majors, which will be held within a span of just 101 days. A player who gets hot for a three-month span could essentially overhaul his career.

But for now, McIlroy has the shortest odds for the Masters (8/1), PGA Championship (10/1), and US Open (8/1). A win in November would cap off the career grand slam for the Northern Irishman.

As for Augusta in November, following McIlroy is Jon Rahm (12/1), Brooks Koepka (14/1), and then defending champion Tiger Woods and Justin Thomas at 16/1.

Up first is the PGA. After McIlroy, it’s Rahm at 12/1, and then rounding out the top five is Koepka, Thomas, and Dustin Johnson at 14/1.

Open Closed

Golf’s oldest major won’t take place for the first time since 1945, when the tournament was canceled because of World War II. The R&A says it considered every possible date to hold The Open Championship, but “based on guidance from the UK Government, the health authorities, public services, and The R&A’s advisers,” there was no reasonable solution.

I can assure everyone that we have explored every option for playing The Open this year, but it is not going to be possible,” said R&A Chief Executive Martin Slumbers.

The next time the Claret Jug will be awarded is now scheduled to take place July 11-18 at Royal St. George’s – the same venue that was to host the 2020 championship. St. Andrews, which was to host the 2021 tournament, will now host in 2022.

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Singapore Casinos Join Coronavirus Closure Cadre, Shuttering Through May 4

Marina Bay Sands (MBS) and Resorts World Sentosa – Singapore’s two integrated resorts – will close starting April 7 through May 4, as the city-state bolsters its efforts to ward off the coronavirus.

Singapore’s casinos, including Marina Bay Sands, are closing through May 4 because of the coronavirus. (Image: Reuters)

The Ministry of Health announced the measure, and the gaming areas at the venues will be closing today with other amenities, including restaurants and spas, halting operations tomorrow.

Marina Bay Sands will be suspending operations for the entire integrated resort from Tuesday, 7 April until Monday, 4 May, in support of the Singapore Government’s latest efforts to combat the COVID-19 situation,” according to a statement on that venue’s web site. “This closure will affect the Hotel, The Shoppes, food and beverage outlets, and all attractions including ArtScience Museum. The Casino will close earlier, with gaming activities to stop from 6 a.m. on Monday, 6 April 2020.”

Genting Singpore Ltd. – the Resorts World operator – previously opted to, shutter that venue through the end of March while MBS remained open. Marina Bay Sands Pte Ltd., a unit of Las Vegas Sands (NYSE:LVS), shuttered some parts of the famed venue to prevent spreading of COVID-19, including a popular nightclub. But the casino and hotel remained operational for several weeks prior to the new, government-enforced closure.

Singapore Slump

On Sunday, Singapore’s Health Ministry reported 120 new coronavirus cases – the city-state’s biggest single-day jump. There are now 1,309 confirmed instances of the respiratory illness and six deaths. The first case of the illness in Singapore emerged in late January, involving a traveler that stayed near Resorts World.

For the city-state, the virus hit as the economy there was weakening and tourism was slowing. That prompted lawmakers to offer MBS and Resorts World property tax reductions and relaxing of fees associated with other travel and leisure entities. As a result of the new closure directive, Genting is also shuttering Universal Studios Singapore, the S.E.A. Aquarium, the Adventure Cove Waterpark, and Dolphin Island.

For Las Vegas Sands, halting operations at MBS comes as the operator is dealing with closures in the US and less than two months after a 15-day shuttering in Macau, its largest market. Singapore is vital to the operator’s finances. In the fourth quarter of 2019, MBS accounted for $457 million of Sands’ $1.39 billion in earnings before interest, taxes, depreciation and amortization (EBITDA) – or more than triple the amount the company’s two Las Vegas properties generated on a combined basis.

Other Measures

It’s not just Singapore’s casinos that are being pinched by the coronavirus. The government is enforcing a national shutdown and is banning all foreign visitors attempting to enter the country on short-term visas.

As is the case in much of the US, all but essential businesses are closed in Singapore, children are being home schooled and restaurants are only offering delivery and takeaway services.

Last month, Singaporean policymakers unveiled a $33.3 billion stimulus package to bolster the economy and it’s expected another round could be revealed this week.

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