MGM - Macau starts off 2021 with 64% drop in gaming revenue

Gross gaming revenue in Macau fell 63.7% Y/Y in January to 8.02B patacas ($1.0B), but showed sequential improvement from the mark in December and topped the consensus expectation from analysts for a drop of 67%. Visitation bottlenecks due to visa processing and COVID-test requirement slowed down traffic during the month, according to Bernstein. "On a relative basis, premium mass was the best performing segment during the month, while junket VIP was most hamstrung and base mass continued to be hampered by low levels of visitors and Hong Kong travel closure," notes the firm. Macau casino stocks: Wynn Macau ([[WYNMF]], [[WYNMY]]), Wynn Resorts (WYNN), Sands China ([[SCHYY]], [[SCHYF]]), Las Vegas Sands (LVS), MGM China ([[MCHVF]], [[MCHVY]]), MGM Resorts ([[MGM]]), Galaxy Entertainment ([[GXYEF]]), SJM Holdings ([[SJMHF]], [[SJMHY]]), Melco Resorts & Entertainment ([[MLCO]]), Studio City International ([[MSC]]). Related ETF: VanEck Vectors Gaming ETF (BJK). Many analysts are expecting more of the same until

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Macau starts off 2021 with 64% drop in gaming revenue