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In contrast to concerns about the overall Chinese economy slowing, Macau is showing rapid growth. Macau’s gaming regulator just reported June Gross Gaming Revenues at approximately $1.9 billion USD, that’s over 60% recovered to 2019. To compare that with last year when travel was suppressed due to China’s so-called zero covid policy, June GGR was up 514%. We estimate overall GGR for 2023 will come in close to $22 billion USD, that’s almost three times the size of Las Vegas and again makes Macau the largest gaming market in the world.
Wynn Resorts is one of the beneficiaries in Macau’s recovery through their majority ownership of Wynn Macau which trades on the Hong Kong Stock Exchange. Wynn Macau is one of six concessionaires and operates two integrated resorts in the market, the eponymous Wynn Macau on the Peninsula, and Wynn Palace in Cotai.
