MSC - Macau looks to recover after wrapping up 2020 with 79% drop in gaming revenue

Gross gaming revenue in Macau fell 65.8% in December to 7.83B patacas ($980M) as the slow pace of recovery continued with more Mainland visitors trekking to the reawakening gambling mecca. Some late month strength was noted as visitation to Macau averaged 24,503 per day for December 23-27, which was 20% higher than the first part of the month. Analysts expected gross gaming revenue to fall about 68.3% during the month.Macau GGR for the full year was down 79.3% to 60.44 patacas ($7.57B) as COVID-19 shutdowns and restrictions decimated traffic. Macau casino stocks: Wynn Macau ([[WYNMF]], [[WYNMY]]), Wynn Resorts (WYNN), Sands China ([[SCHYY]], [[SCHYF]]), MGM China ([[MCHVF]], [[MCHVY]]), MGM Resorts ([[MGM]]), Galaxy Entertainment ([[GXYEF]]), SJM Holdings ([[SJMHF]], [[SJMHY]]), Melco Resorts & Entertainment ([[MLCO]]), Studio City International ([[MSC]]). Related ETF: [[BJK]] The green shoots in the Macau sector arrive about six weeks before the key Chinese New Year holiday period.

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Macau looks to recover after wrapping up 2020 with 79% drop in gaming revenue