Macao Gambling Revenue Spikes 136% in February
Macao casinos saw a massive 136% surge in gambling revenue in February, and though it's a hopeful sign of recovery, it's actually not all that impressive. It only points to how bad the situation was last year as the COVID-19 pandemic shut down casinos for two weeks.
In fact, on a sequential basis, gambling revenue was down 9% from January. That probably explains why shares of Las Vegas Sands (NYSE: LVS), Wynn Resorts (NASDAQ: WYNN), and Melco Resorts & Entertainment (NASDAQ: MLCO) were barely reacting to the news.
Image source: Getty Images.
Source Fool.com