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Waiting game continues for Macau after lacklustre 2Q results

News Snapshot:

Macau operators continue to express confidence over substantial pent-up demand, however while revenue in Las Vegas powers ahead, the world’s biggest gambling hub is slow to get back on its feet. During analyst conference calls to discuss recently released 2Q21 results, executives expressed optimism about long-term prospects for the market. However, recovery from the crisis is dragging due to Macau’s zero tolerance rates for Covid and continuing low vaccination rates. Most of the operators to have reported so far remained in the black at the EBITDA level thanks to cost cutting and operational efficiencies, but the top-line growth isn’t there…

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