Macau's gross gaming revenue rose 528.1 percent to 8.44 billion patacas (HK$8.19 billion) in July, missing expectations, partly due to Covid-19 flare-ups in mainland China. Revenue increased 29.2 percent month-on-month, but dropped 65.5 percent from the pre-pandemic level in 2019, data from the Gaming Inspection and Coordination Bureau showed. Progress in reopening the border with mainland China remains uneven. While Macau has removed quarantine requirements for visitors from the neighboring mainland province of Guangdong since July, a flareup of Covid cases elsewhere in China has triggered similar measures for Liaoning, Jiangsu and Sichuan and more stringent testing requirements for visitors arriving by air. Uncertainty also remains over when Macau's border with Hong Kong will fully reopen, as visitations from the financial hub are less than 10 percent now of what it was in pre-pandemic times due to quarantine requirements. While licenses for Macau's six casino operators are due to be renewed by next June, Melco Resorts & Entertainment Chairman Lawrence Ho last week said he wouldn't be surprised if they were extended by another year or two as the government focuses on Covid-related matters. Gaming revenue is expected to reach a post-pandemic high in August during the summer school holidays, JP Morgan analyst DS Kim said in a July 19 note. Today's Standard