Macau Casinos See First GGR Rise Since September 2019
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Macau casinos saw a 136% increase in gross gaming revenue for the month of February. It's the first year-on-year rise since September 2019.
Macau GGR has improved from 2020 levels. However, border restrictions continue to impact casinos in the Chinese gambling hub. Mainland China has been battling one of its worst outbreaks of coronavirus since the pandemic began. This has affected travel to Macau. Less than 10% of Golden Week visitors arrived from countries other than China. JP Morgan reported an uptick in casino revenue towards the end of the Lunar New Year period.
Melco Resorts and Galaxy Entertainment reported healthy balance sheets in trading updates for the final quarter of 2020. Dr Lui Che Whoo, chairman of Galaxy, believes the Macau market will recover soon.
