Macao Is Now the Focus for Casino Giants
A 79.7% drop in gambling revenue in the world's largest gambling market (Macao) is rarely seen as a good thing, but there are some small signs of hope for Macao right now. Sure, gambling revenue was just $664 million for the region in March, but the drop in revenue wasn't 100%, which it might be for most U.S. casinos in April. Visitors are slowly returning to resorts in Asia, and that may be the best place to look for an industry recovery.
For the companies with operations there, Macao could be a preview of what's to come in the U.S. and become a steadying force for casino stocks. It won't be a cash cow the way it's been for over a decade, but if it's not a cash drain, that may be all that investors can hope for.
Source Fool.com
