While China’s reopening has sparked a tourism surge that helped Macau’s gaming revenue return to about 60% of the pre-Covid level in May, the boom could fade later this year as pent-up demand eases and increasing flight capacity sees more Chinese head overseas. The early efforts to enter new markets reflect casino operators’ anxiety over a deteriorating outlook for Macau, which once pulled in six times the gaming revenue of Las Vegas and delivered historically high returns.Ĭhina wants the enclave to shift away from gambling toward entertainment and has cracked down on high-rollers it suspects of money-laundering while imposing heightened scrutiny on gaming activities. MGM didn’t immediately respond to a request for comment sent outside of business hours.

The moves helped push a Bloomberg Intelligence gauge of Macau casino operator shares up more than 5%.Ī representative for Galaxy didn’t comment on its plans. Galaxy shares extended their rally to 5.3% in Hong Kong trading on Friday, while MGM China, a subsidiary of MGM Resorts, rose more than 6%. Galaxy, the gaming, retail and hospitality group controlled by billionaire Lui Che-woo, is also exploring starting gaming operations in the United Arab Emirates, some of the people said. and MGM Resorts International are studying the potential of opening casino resorts in the country, according to the people, who asked not to be identified because the matter is private.

BANGKOK, June 2 (Bloomberg): Two of the world’s top casino operators are laying the groundwork to potentially establish gambling facilities in Thailand as the industry looks to hedge against a deteriorating outlook in Macau.

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