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Macau is also finally open to foreigners. Travelers arriving at Macau’s border gates gain entry by presenting a negative COVID-19 test conducted within 48 hours of departure. International travelers arriving in Macau via the mainland, Hong Kong, or Taiwan must submit a negative test taken within 48 hours of arriving at the enclave.<\/p>\n<\/div>\n
Fewer entry rules have increased demand, prompting ferry and bus service resumption between Macau and Hong Kong.<\/p>\n
2023 Outlook<\/b><\/h2>\n
Analysts are adjusting their full-year revenue outlooks for Macau on the stronger-than-expected numbers. Morgan Stanley recently elevated its 2023 GGR projections by 42%, with the investment house now projecting casino revenue to total around $22 billion.<\/p>\n
If that number is realized, the Macau casinos would win about 60% of their 2019 GGR of $36.5 billion.<\/strong><\/p>\nAnalysts concede that predicting the Macau casino sector is much more difficult than in prior years after VIP junket groups were largely forced out of the industry. As a result, the casinos are pivoting toward the mass-market gambler. While Sands and Galaxy Entertainment are said to lead the mass market, the general public has never been so sought in Macau by all six gaming giants.<\/p>\n
The casinos last year agreed to invest heavily in nongaming amenities in exchange for their new 10-year concessions that run through 2033. The goal is for Macau to follow Las Vegas’ lead in diversifying its economy away from just gambling and pivot to become a global destination for leisure travel, business gatherings, and events.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau casinos exceeded expectations in February as gross gaming revenue (GGR) soared past analyst outlooks. February GGR came in at MOP10.32 billion (US$1.28 billion), about 33% higher than a year ago. The $1.28 billion topped the analysts’ consensus February GGR forecast of $1.17 billion. Although February was 11% lower than January when the six casino […]<\/p>\n","protected":false},"author":25,"featured_media":261966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,81881],"tags":[82061,82124,85044,51],"acf":[],"yoast_head":"\n
Macau Casinos Exceed Expectations, February Win Totals $1.3B<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n