The region has been in rolling lockdowns since 2020 and hence the city’s gambling revenue went down the tube and is still down 51% compared to 2019 levels. Macau is like China’s version of Las Vegas, except it's a third of the size even though it produces three times the revenue. Two US-listed stocks look best-positioned to play this theme, MGM Resorts (NYSE: MGM) and Wynn Resorts (NASDAQ: WYNN), both with considerable exposure to Macau casino revenue. After three years of rolling lockdowns, it’s likely that travelers will wait to see how the reopening goes for a while before booking trips, leaving significant upside to the Macau reopening play. With travel just recently being reopened, most international travelers haven’t even begun to make plans to travel back to China yet. However it was only in mid-March that the nation fully reopened travel to all international travelers, accepting all types of visas, according to a March 13 announcement. It dropped quarantine requirements for international travelers in January, and declared victory over COVID-19 in February.

So after three years of question marks, it looks like China is finally giving the “all-clear” signal. The Chinese government only initiated reopening plans back in December 2022, but it's been at a slow pace as the country looks to avoid prior mistakes which led to rolling lockdowns and a constant game of “red light, green light” with global markets.

Does mgm have casino in macau