{"id":169248,"date":"2021-04-01T09:27:20","date_gmt":"2021-04-01T16:27:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=169248"},"modified":"2021-06-23T01:46:00","modified_gmt":"2021-06-23T08:46:00","slug":"macau-casinos-record-second-consecutive-revenue-gain","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-casinos-record-second-consecutive-revenue-gain\/","title":{"rendered":"Macau Casinos Record Second Consecutive Revenue Gain, Gaming Win Totals $1.04B"},"content":{"rendered":"

The Macau gaming industry, the world’s richest, posted its second consecutive monthly revenue gain in March. Casinos won MOP8.31 billion (US$1.04 billion), a 58 percent year-over-year increase.<\/p>\n

\"Macau
Pedestrians walk outside Studio City on the Cotai Strip. Macau casinos welcomed back visitors last month and won more than $1 billion of their gambling money. (Image: Studio City)<\/figcaption><\/figure>\n

March 2020 was a favorable comparison<\/a>. Travel to the Chinese Special Administrative Region (SAR) was halted at this time last year. Currently, all mainland China residents, as well as people from Hong Kong and Taiwan, can enter the casino center.\u00a0<\/span><\/p>\n

Mass gross gaming revenue (GGR), analysts say, recovered to roughly 40 percent of its pre-pandemic level. Experts also believe the second half of March was better than the first.<\/p>\n

We think the second half of the month was better than the first half of the month, so the full month gaming results likely understates the degree of recovery,”<\/strong> explained Joe Greff, gaming analyst at JP Morgan.\u00a0<\/span><\/p><\/blockquote>\n

Last month was Macau’s best performance since the onset of the COVID-19 pandemic. Despite signs of life from the March 2021 revenue report, the $1.04 billion haul is still nearly 70 percent lower than what the market pulled in during March of 2019.\u00a0<\/span><\/p>\n

Stocks Receive Bump<\/b><\/h2>\n

There’s a growing sense of global optimism regarding the world moving closer to life after the pandemic. The World Bank is forecasting that global activity will expand four percent in 2021.<\/p>\n

As vaccination continues, global growth will continue, World Bank’s Global Economic Prospects stated in a recent report.<\/p>\n

“In emerging market and developing economies, the recovery will be uneven, with a strong rebound in China and softer-than-expected growth across most other economies as the pandemic’s lingering effects continue to weigh on consumption and investment,” the report added.<\/p>\n

With optimistic economic forecasts for China, and Macau’s March GGR numbers hinting at an impending recovery, shares of the US-traded casino<\/a> giants invested in the region trended higher in Thursday trading.\u00a0<\/span><\/p>\n

April 1 Midday Trading<\/strong><\/p>\n