With three months in the books, Macau’s casino industry is rebounding from its dismal 2022 performance, which marked the region’s worst annual revenue total in almost two decades.
However, when comparing March numbers with results from pre-pandemic 2019, Macau is still a little more than 50 percent behind what some analysts say would be a solid recovery after three years of economic turmoil.
Three Nevada-based companies — Las Vegas Sands, MGM Resorts International and Wynn Resorts — make up three of Macau’s six gaming license holders.
“We have believed that getting down to 50 percent or lower level relative to 2019 was always going to be an important threshold,” Stifel Financial gaming analyst Steven Wieczynski wrote in a research note Sunday, a day after Macau’s Gaming Inspection and Coordination Bureau said casinos reported collecting $1.53 billion in gaming revenue, a 247 percent increase from a year ago.
