Visitors are finally streaming back to Macau. Long-suffering casino shares in the gambling hub are looking like better investments too—but not all will benefit equally.
Around 655,000 visitors arrived in Macau in the first five days of China’s long fall holiday—even longer than usual this year thanks to the convergence of the Mid-Autumn Festival and the Golden Week Chinese National Day holiday. That figure is equal to about 85% of visitor arrivals in the first five days of China’s Golden Week holiday in 2019. And tourists have definitely been betting in Macau’s glitzy casinos: Citi estimates that gambling revenue for the whole of October will add up to the equivalent of around $2.4 billion, 72% of prepandemic levels.
