Macao: Casinos up against revenue declines during relicensing

Macao: Casinos up against revenue declines during relicensing

Article brief provided by Las Vegas Review-Journal
  • Richard N. Velotta, Las Vegas Review-Journal
August 15, 2022 6:27 PM
  • Richard N. Velotta, Las Vegas Review-Journal

    At a time when gaming revenue has dried up in Macao, licensed casino operators there, including three Las Vegas-based companies, are being asked to invest more money on nongaming attractions as a condition of relicensing.

    COVID-19 restrictions in Macao have damaged the region’s economy to the point that gross gaming revenue from the Strip is expected to surpass Macao in 2022, and analysts believe it may take years for the Chinese enclave to recover.

    As recently as 2019, Macao’s casinos generated 5 ½ times more gaming revenue than the Strip, said Alidad Tash, a Macao-based gaming analyst with 2NT8 Ltd.