Melco Resorts and Entertainment is already in a little bit of financial difficulty, and things are getting worse the longer it is forced to keep its casinos closed. Macau has already allowed gambling to resume, but continued border closures, which are only just now beginning to be lifted, have kept patrons away. In Cyprus, where Melco has a handful of properties, Melco can now only watch as other businesses begin their commercial activity. While the country’s government has decided to allow some economic endeavors to get cranking as of today, this doesn’t include casinos and movie theaters. These segments are still on lockdown, and more than likely won’t be able to resume operations until the middle of July. Hopefully, that won’t be too late for Melco.

Cypriots will be able to take to the streets, on a limited basis, starting today. Further independence will be given on May 21, as long as the country doesn’t witness any coronavirus relapse. Construction companies and retailers – but not shopping malls – are now able to restart their activity, with the malls joining airports and hotels in the next relaunch phase. That is currently scheduled to take place on June 9.

In a joint partnership with Cyprus Phassouri (Zakaki) Ltd., Melco runs the C2 (Cyprus Casinos) brand through ICR Cyprus Holdings Ltd. There are now four satellite casinos operating under the brand in Cyprus, as well as a temporary casino in Limassol. All five venues saw their gaming floors go dark on March 16 for what was going to be just a month before the government extended the lockdown until the end of April.

Now that Melco won’t be able to get started until the middle of July, more questions may arise over the company’s financial stability. The company just sold off its stake in Crown Resorts, taking a huge loss in the process. Having purchased just under 10% of the company less than a year ago at $8.50 a share, Melco sold its stake last week to The Blackstone Group for $5.31 a share. At the same time, several key executives have vacated their position, and Melco chairman and CEO Lawrence Ho has agreed to work for free until the end of the year.

This weekend, two primary entry points into Macau, the Gongbei border and the Hong Kong-Zhuhai-Macau Bridge (HZMB), began operating under normal hours – a good sign that things are finally starting to stabilize for the casino city after the coronavirus pandemic. While travel restrictions weren’t lifted in conjunction with the return of the operating hours, this is expected to happen very soon, as health officials in Macau announced that it will have new border policies in place in just a few days. Given that casino traffic has remained virtually nonexistent, any change in the restrictions will be welcome.

This past January, the Gongbei border gate and the HZMB reduced their hours of operation in response to the growing threat of COVID-19. As of yesterday, though, the border gate now runs from 6 AM to 1 AM, and the HZMB’s passenger building is open from 8 AM to 10 PM. Travel restrictions that remain in place in mainland China, though, will continue to keep the number of arrivals at a minimum.

For now, anyone passing through a Macau border into the city will be questioned about their more recent travels and health situation. They will need to be given a clean bill of health to enter the city, and anyone who shows signs of illness – fever, acute cough, etc. – could be denied entry. These individuals might be allowed to enter; however, they will need to submit to certain health protocols. Some travelers – those who appear to have signs of the coronavirus specifically – will be denied entry. Given that Macau has not seen a new coronavirus case in 25 days, the city isn’t going to take any chances.

The changes couldn’t come at a better time for Macau. Gross gaming revenue (GGR) across the entire first quarter of the year was nowhere close to what anyone had anticipated, and the second quarter hasn’t gotten off to a good start, either. The city gaming authority has released the latest figures for April, showing that GGR was down 96.8% last month compared to April 2019. Across the first four months of the year, total GGR has shrunk by 68.7% year-on-year.

There’s little doubt that casino operators who have furloughed or let go employees as a result of the coronavirus need to seriously reconsider how they get back in the game as they look to start the recovery process. The millions of dollars in losses will need a considerable amount of time to recover, and many casino workers will most likely find that their temporary work suspensions turn into something more permanent. This will definitely be the case at Station Casinos, which has already confirmed that it has no plans to bring back its entire workforce.

Station sent out a letter to its employees last Friday, explaining that “meaningful staffing level reductions” at its casinos in Nevada were in order. These reductions will take effect as of May 16, with Station CEO and chairman Frank Fertitta III adding, “We have tried to retain our entire team, but in the face of this continued uncertainty we can no longer do so.” Nevada will begin to open for business as of May 15, but casinos won’t be included in the first wave of operations allowed to get back on its feet.

It’s possible, according to Fertitta’s letter, that the company could first look to properties such as Red Rock Resort, Palace Station, Sunset Station, Green Valley Ranch Resort as the first venues to welcome gamblers once it gets things rolling. Other properties, like Fiesta Rancho and The Palms, would most likely see a relaunch at a later date, but only after Station can determine how the company is progressing “in a post-COVID-19 world.” Station apparently doesn’t have much optimism that it will be able to keep all of its gaming operations intact, adding, “When we are permitted to reopen, we don’t know what business will look like other than knowing that business levels will be lower as a result of this unprecedented crisis.”

Station, which has been the center of controversy in the casino industry lately over its refusal to recognize workers unions, previously announced that it would pay all full-time employees until May 16, and even moved some part-time employees to full-time status so they could be included. The company has also decided to extend medical and dental coverage through the end of September, and those employees whose status wasn’t affected by the furloughs will receive their normal pay and benefits through the end of this month.

To say that Dutch player Jorryt van Hoof is in good form would be an understatement. Having starred in the recent 2020 Poker Masters Online Series, cashing an incredible 10 times in the high roller series, van Hoof has won big again, taking down the Spring Championship of Online Poker (SCOOP) Event #2 overnight for a massive $176,104.

If you don’t recall, then Jorryt van Hoof was the crowd favourite back in 2014 as the WSOP Main Event built to a conclusion, only for the popular Holland player to bow out in 3rd, missing out on the heads-up to win the title.

[youtube https://www.youtube.com/watch?v=a5jdJGT2Pvw?feature=oembed&w=500&h=281]

Having got so close to the biggest title in the world of poker, some players could have fallen by the wayside, slipped back into the shadows from the spotlights that shine so brightly in the ‘Thunderdome’ when the final nine players convene to battle for the title of World Champion.

In the first Galfond Challenge, Phil Galfond suffered huge losses early in the contest to ‘VeniVidi’, slumping to a €900,000 deficit that many thought would finish him off, not only in the challenge itself, but perhaps the overall schedule of events on Run It Once.

That, of course, didn’t happen as Galfond pulled back his losses and seized a late, great victory with a thrilling comeback victory for the ages.

It must come as something of a surprise to the great man, then, that he’s got off to such a strong start against the similarly-talented ‘ActionFreak’. While Galfond has begun his ‘second’ challenge against Bill Perkins, the busy schedule of the Die With Zero author, businessman and philanthropist demands a sporadic series of sessions rather than a regular return to familiar tables. That doesn’t help the narrative of the challenge, of course, and Galfond has been wise to start the challenge against ActionFreak. Taking place in Pot Limit Omaha, just like in the VeniVidi challenge, Galfond has got off to the opposite kind of start this time round.

The terms of Galfond’s challenge against ActionFreak are slightly different to the ones which framed the VeniVidi clash. The action is €150/€300, so swings are even bigger, the average pot is larger and because of that, the $416,442.58 that Galfond leads by is a very healthy lead but not one that ActionFreak will feel he can’t come back from.