HONG KONG -- Macao casinos logged a strong first quarter following China's COVID reopening, but a crackdown on junkets is keeping high rollers away, sowing doubts over how quickly the gambling hub can return to pre-pandemic revenue levels.
All six operators recorded positive earnings before interest, taxation, depreciation and amortization (EBITDA) in the three months ending March, with Sands China leading at $398 million, according to company disclosures.
