- Mexico has put a temporary halt on the production of beer.
- Sportsbooks released odds on if Corona beer will change its name and if its parent company, Grupo Modelo, will go bankrupt.
- Bookmakers favor Corona Beer to stick to its name at -2500 odds and favor Grupo Modelo to ride out the COVID-19 storm and remain in business at -2000 odds.
MEXICO CITY, Mexico - With the Coronavirus pandemic still spreading throughout the world, Mexico has done its part in trying to help prevent the virus from spreading as they put a halt on the production of beer.
However, the temporary stoppage has worried some that Grupo Modelo, the company that makes Corona Beer, will go out of business with no sales. Because of that, online Sportsbooks have released odds on their entertainment odds sections for whether or not Corona beer will change its name as well as go bankrupt before 2021.
Mexican Beer Halt
On April 2, the Mexican government had announced that they put a temporary halt on the production of beer in the country. This was done in an effort to help prevent the spread of COVID-19. Mexico has over 1,500 confirmed cases and 50 deaths.
“If the federal government considers it appropriate to issue some clarification confirming beer as an agro-industrial product, at Grupo Modelo we are ready to execute a plan with more than 75% of our staff working from home and at the same time guaranteeing the supply of beer,” said Grupo Modelo in a statement.
Grupo Modelo acata medidas dictadas por el Gobierno Federal para hacer frente al SARS-CoV2. pic.twitter.com/MXthEGnl5Q
— Grupo Modelo MX (@GrupoModelo_MX) April 3, 2020
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However, that effort is still not enough for the Mexican government which is taking hard measures to stop the spread of the virus. The halt in production is expected to severely damage the company’s profitability in 2020.
Corona Beer Odds
Online sportsbooks have released odds on whether or not Corona will change its name before 2021 and also if Grupo Modelo, the creators of Corona, will go bankrupt before 2021.
The odds for a name change are unlikely at +800 while there are -2500 odds that they will not change the name. The odds for them to go bankrupt are also highly unlikely at +700 odds while odds for them not going bankrupt are at -2000.
The fact that Corona beer and the coronavirus share a name has definitely made heads turn, but it has not affected their sales at all. On the contrary, sales have actually risen. Sales for the beer have grown 8.9% from January to March of 2020. Sales also grew by 34% since March 21st, 2019.
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