UPDATE 1-Macau's May casino revenue soars 366% year on year on visitor influx [Reuters]
MGM Resorts International (MGM)
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Source: Reuters
The monthly take was bolstered by a five-day national holiday that saw hundreds of thousands of visitors flock to the special Chinese administrative region, which is the only place in China where citizens can legally gamble in casinos. China lifted strict COVID-19 restrictions in January, allowing visitors to swarm into Macau for the first time in more than three years. Around 500,000 people visited the former Portugues colony during the five day Labour Day holiday at the start of May, crowding onto its pastel coloured streets surrounding historical sights Senado Square and the Ruins of St Paul's and packing its glitzy casinos. Authorities are keen to diversify sources of income in Macau, which depends on casinos for more than 80% of its government revenues, and have imposed strict new regulations on its six casino operators. The rush of visitors comes as the densely populated territory grapples with an acute labour shortage, a key concern for casino operators Sands China, Wynn
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