Macau casino groups have enjoyed a rebound in the first quarter, with Galaxy Entertainment on Monday becoming the latest to report a big recovery in revenues after the lifting of Covid-19 restrictions.
The Chinese territory regained its long-held status as the world’s casino capital in the first quarter when it overtook Las Vegas in terms of gross gambling revenue, having fallen behind after strict pandemic policies shut the territory off from its customers.
Hong Kong-listed Galaxy Entertainment said net revenue had recovered to more than half its pre-pandemic figures. Apart from its Galaxy and StarWorld casinos on Macau, the group has a shareholding in rival Wynn Resorts and is seen as better adapted to the current environment where the focus is on the mass market.