Macau Casino Revenue Up for Second Straight Month, October Win $482.3M
Macau cassino revenue rallied for the sec successive month inwards October, with the vi gaming operators winning to a greater extent money cancelled of players than they did inward September.
Gross gaming revenue (GGR) last-place month totaled MOP3.9 billion (US$482.3 million). While that represents a nearly 11% slump from Oct 2021, it’s more than 31% higher than September 2022, when the casinos won about $365.5 million.
October is the sec serial month where gaming increased month-on-month.
Through 10 months of 2022, Macau cassino revenue stands at MOP35.7 one million million (US$4.42 billion). That’s half of what the casinos took cancelled patrons from January through Oct 2021, and just now 14% of the more than $30.5 one million million inwards GGR that the casinos won through 10 months inwards pre-pandemic 2019.
Stock Rally
The quaternity US-traded gambling casino companies licensed inward Macau — Las Vegas Sands, MGM Resorts, Wynn Resorts, and Melco Resorts — are trading higher Tuesday morning. The gains aren’t to do with the Oct gaming revenue report, but rather, are fastened to China’s resumption of its electronic visa program.
As of today, Chinese mainlanders tin can go for for an Individual Visit Scheme (IVS) visa online.
For more than 2 and a half years, mainlanders wishing to move around to Hong Kong or Macau had to hold inwards individual for a visa at a National Immigration Administration location. The mental process often included waiting in a lengthy queue before beingness interviewed for approval of the trip.
The online e-visa computer programme allows for visas to follow processed in an expedited manner. mainland China said its determination to restart IVS facilitation online was because of luxuriously exact and the belief that COVID-19 is relatively contained in the world’s to the highest degree populated country.
E-visas are expected to finally takings meaningful visitor traffic to Macau. That’s receive news to the vi gambling casino licensees who keep to hold off for a pandemic retrieval in what was the world’s richest cassino securities industry in terms of revenue before the coronavirus.
As of 11 a.m. EST on Tuesday, Sands shares are upwardly 3.6%, MGM is upwards 1%, Wynn is 4% higher, and Melco has climbed 4.5%.
Major Rumor Swirling
China remains the only when global superpower that continues to purchase order lockdowns and mandate wicked restrictions on normal life when young COVID-19 infections are detected. China’s “zero-COVID” insurance policy has been scolded past many other leaders, and has been cited for ongoing provide chain issues.
Along with the e-visa news, shares of Macau gambling casino stocks are potential trading higher today because of rumors out of PRC that the People’s Republic is considering moderation the “zero-COVID” response measure inwards March 2023.
Hong Kong’s Hang Seng Index was upwards to a greater extent than 5% Tuesday, while the Hang Seng Tech Index jumped nearly 8%.
The hearsay was sparked past a societal media carry that went viral inward China. That carry suggested leaders of President Xi Jinping’s Communist Party are forming a committee to assess how the land might way out “zero-COVID.” Chinese Foreign Ministry spokesman Zhao Lijian said he’s “not aware” of such discussions.
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