The latest figure reflects the gaming bonanza brought about by October’s “golden week” holiday, when the city welcomed almost a million visitors.
Macao Casinos
JP Morgan’s figures suggest the holiday saw higher daily revenue averages than any post-pandemic period to date.
Analysts have been concerned about the bottom-line impact of the severe weather experienced in the month by Macao, which was battered by a typhoon and heavy rain.
The month of June is traditionally a flat one for the territory, with Macao’s gaming concessionaires affected by a seasonal slowdown.
Analysts say Macao is capable of generating comfortably more gaming revenue than the government has targeted this year.
Robert G. Goldstein, chairman and chief executive officer of Las Vegas Sands, Sands China’s controlling shareholder, said he was pleased to see recovery “accelerate during the quarter”.
Upbeat, new reports are adding to the consensus that the post-pandemic recovery of Macao’s gaming industry is healthily on track.
Wilfred Wong, the president and executive director of Sands China, says the gaming concessionaire is already going in the ‘direction that the government wants us to go in’.
A report by JP Morgan says the casinos’ ability to run tighter operations is going to significantly boost profits in the coming years.
