MGM China is trading just a fraction above its 1 January level. The five other concessionaires’ share prices have dropped between 21 and 48 percent.
Alidad Tash
The emergence of new gaming destinations, regionally and further afield, and the future of non-gaming tourism in Macao, come up for discussion.
Visitors to the territory over the long weekend don’t appear to have read the memo on Macao’s economic diversification.
Hong Kong held onto masks longer than Macao, but unlike Macao it no longer mandates them for public transport.
The concessionaire highlighted the impact of the pandemic and said it was ‘unable to reasonably predict’ if future restrictions would affect its business in the future.
As it emerges from the pandemic, Macao seeks to position itself as a well-rounded destination, but there are obstacles according to Alidad Tash.
But expert voices hope for a steady recovery with revenues for 2023 expected to reach around half of 2019 levels.