Macau Gaming Scholar Posts Estimates Pointing Towards Strong 2023
In recent news, Macau gaming scholar Zeng Zhonglu has released a report showing estimates that Macau’s gross gaming revenue could jump up to 70% from pre-pandemic levels in 2023 as they begin to recover from their three year downtime due to Covid restrictions. Zhonglu went on broadcast to say that “the most difficult time has now passed” pointing towards recession bottoming out. This news comes after the recent reinstatement of Macau’s casino licenses as well as rising demand for bettors to play again. Macau officials are looking to push the territory’s economic recovery as they have already changed their gaming law and completed the gaming concession tending, moving towards a positive 2023. If these estimates are correct it should look to impact gaming stocks tied to Macau: LVS, SJM, WYNN, MLCO.