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The easing of Covid-era restrictions in Macau’s casinos during the first quarter has given investors reasons to bet on the sector, even though a recovery to pre-pandemic levels this year seems unlikely. Gross gaming revenue in the world’s largest casino hub rose to a three-year high in January, aided by Macau easing travel restrictions on visitors from China. However, even with this growth, arrivals from China are still at just 39% of pre-Covid levels, and a full recovery is expected to take time, especially for mainland visitors. Investment banks and analysts remain positive on the sector, with Jefferies estimating that gross gaming revenue in Macau could reach 49% of pre-pandemic levels in 2023 and 64% in 2024, and JPMorgan analysts tipping a return to pre-Covid mass gaming revenue levels in 2024. The banks have their top picks, with Galaxy, MGM, and Wynn among the favored Macau casino stocks. The iBET Sports Betting & Gaming ETF has approximately 20% exposure to China Listed Gaming Stocks.
Rivalry Corp New LaunchRivalry Corp., an internationally regulated sports betting and media company, has launched its proprietary gaming platform Casino.exe in Ontario with eight new casino games. The company aims […]
