There was “reason to be optimistic” about the first-quarter outlook for the Macau gaming market, said on Wednesday Hubert Wang, president and chief operating officer (COO) of MGM China Holdings Ltd.
There was in particular, “no reason to believe” advisory notices to limit out-of-province travel in China’s mainland after new Covid-19 cases, “will stay in place for a long period of time,” added the executive.
China’s mainland is the only place to have a largely quarantine-free travel bubble with Macau.
Mr Wang noted that MGM China had been “cash flow positive” each month in the fourth quarter, against the backdrop of travel restrictions between the mainland and Macau easing from late September.
Some of that “momentum” had been carried to the first quarter, prior to the travel advisory notices.
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