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Earnings in Macau came close to surpassing post-Covid record in January, reaching MOP19.3bn.
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Earnings in Macau came close to surpassing post-Covid record in January, reaching MOP19.3bn.

 January saw Macau's second-highest revenue generation since reopening following the COVID-19 outbreak, with MOP19.3bn (£1.9bn/€2.2bn/$2.4bn).
 The galaxy  Only in Macau  With the Chinese New Year quickly approaching, Macau's income for October 2023 reached MOP19.5bn, surpassing that of the first month of 2024.

 The gross receipts for the month of January were up 6.7% from the corresponding figure in the previous year, and they were up 4.1% from December 2023.

 Regardless of the numbers, Macau's January gross gaming revenue was 14.4 percent lower than the MOP22.1 billion reported in the last January prior to the epidemic.

 The anticipated continuation of Macau's COVID-19 recovery
 Macau's recovery to the disastrous COVID-19 lockdown was remarkable, as evidenced by a 333.8% year-on-year increase in cumulative gross income to MOP183.1bn in 2023.  Although it only accounts for 59.8% of the last full year before COVID, the upward trend that has been observed since the lockdown limits were loosened is anticipated to persist.

 Since most lockdown limitations were loosened in January 2023, Macau has grown.
 As a result of SJM's heavy investment in its integrated Grand Lisboa Palace Resort in Macau, the company's outlook on the stock changed from "negative" to "stable" in early January, according to Fitch Ratings.

 Las Vegas Sands aims to gain from Macau's prosperity as well; the casino might earn as much as $10.4 billion in 2023 if all goes according to plan.  Macau contributed significantly to this expansion, with revenues increasing by 303.1% to $6.6bn.

 Rob Goldstein, chief executive and chairman of Sands, has high hopes for the region, especially since Covid restrictions were only partially lifted in Macau in January of last year.

 "The future growth of Macau is an ongoing speculation," Goldstein stated.  Could the Macau market reach $30 billion, $35 billion, $40 billion, or even higher?  It will, in our opinion.

 Considering the challenges of China, the sovereign power over Macau, the fact that Macau is today thriving is even more astounding.  Sports lottery sales dropped 13.3% from November 2022 and overall lottery sales down 2.5% year-on-year in China in November 2023.

 Jockey Club compelled to suspend all activities
 Horse racing has not yet had the same level of success as casinos in Macau.  The Macau Horse Racing Company has decided to stop providing horse racing starting from 1 April 2024 because of this.

 Macau Island 
 The Macau Jockey Club has announced that starting in April 2024, they will no longer provide horse racing.
 The administration of the special administrative zone and the business that runs the Macau Jockey Club reached an agreement.  The Club's permission to run horse racing in Macau exclusively was terminated by this arrangement.

 The government's representative who signed the deal was Lei Wai Nong, who is the secretary for economy and finance.

 Company officials said that the "limited room for development and growth" and the "adverse effect" of the epidemic were to blame for the over MOP2.5bn in losses that had accrued.


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