Gaming revenues in Macau soared higher by 450% YoY to a 3Y high thanks to a sharp revival in Chinese tourism to the gambling capital. Gross gaming revenue touched MOP 14.7 ($1.8bn), the highest monthly revenues since January 2020. However, Bloomberg notes that the numbers are still about a third lower than what it was in 2019 on average. While revenues in the region have jumped due to an uptick tourism, Credit Suisse analysts note that growth could flatten in 2H 2023 as China adds more international flights and pent-up travel demand normalizes.
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