Mainland China has recently announced it is removing a travel restriction to and from Macau.
Most of Macau’s casino companies saw their stock prices increase after this news broke.
Reports on gaming revenue in Macau for August will be released in a few weeks.
Macau has seen its gaming revenue plummet since early 2020. Despite the best efforts from city officials and gaming executives, things have been very slow to recover. Fortunately, new reports have surfaced this week claiming Macau’s casino industry is finally seeing things improve.
The casino companies here are desperate to see revenue figures surge. It’s clear there is still some serious work that needs to be done, though. Now is a great time to talk about what has led to the recent improvement here.
Let’s get into it!
China’s Travel Restrictions to Macau Have Finally Been Lifted
Macau’s gaming revenue was almost non-existent for months last year. China eventually lifted some restrictions and tourism and revenue began to increase here. Then, once again, China ordered a new set of travel restrictions into the territory.
Covid-19 infections have been decreasing in Macau and China has finally decided to lift the travel restrictions set in place. It’s excellent news for the many casino operators in the territory. That includes several of the biggest ones based in the United States, including Wynn Resorts and Las Vegas Sands.
There is still reason to be cautious about the situation in Macau. China has shown a propensity for ordering intense travel regulations on a moment’s notice. Some analysts expect to see another wave of restrictions set in place here before long.
For now, it seems there have been some big improvements for the casinos here lately.
Macau’s Casino Industry Begins Seeing Improvements
Macau has been much slower to recover than many other major gambling hubs. Over in the United States, land-based casino revenue is poised to break all-time records. It will likely take years for Macau to reach pre-pandemic revenue levels, though.
There is some cause for the casino companies here to celebrate. Reports surfaced this week claiming that Macau casino stocks have begun to surge amid the news that China is removing its travel restrictions. This almost guarantees a new wave of tourism and revenue into the territory.
Traffic into Macau has been increasing lately. Analysts are now curious to see the revenue reports for the month of August. We’ll be sure to offer more updates on the revenue situation here over the next few weeks.
Things are faring much better for the US casino industry. Here’s a quick look at how US casino companies are performing right now.
Louisiana has just released its latest report on gaming revenue for the month of July. Here, total revenue came out to nearly $222 million. The Golden Nugget in Lake Charles proved to be the most successful casino, bringing in $31.5 million.
Pennsylvania is another state to report large increases in casino revenue last July. Total revenue from the state’s licensed casinos came out to $423 million. Parx Casino in Bucks County found the most success by bringing in about $64 million in GGR.
Major hubs such as Las Vegas and Atlantic City continue to see solid tourism numbers. Despite the spread of the Delta variant, the country’s gaming industry seems to be performing solid. Stay tuned for more information on US casino revenue as the year goes on.
Are you surprised to see how Macau’s casino industry is faring right now? Let us know in the comment section below.
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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