The Macau casino industry is rebounding after a dismal 2022 performance, but it is still behind what some analysts consider a solid recovery compared to pre-pandemic 2019 levels. The region’s gaming revenue total for the first three months of 2023 was more than $4.3 billion, but still over 50 percent behind 2019 levels. The March gaming revenue total was $1.53 billion, a 247 percent increase from the previous year and Macau’s highest monthly revenue figure in 38 months. However, analysts expect the next few months to be a roller coaster as China goes through the ebbs and flows of reopening. Las Vegas Sands, MGM Resorts International, and Wynn Resorts are three of Macau’s six gaming license holders, and are expected to provide additional insights when they report their first-quarter earnings results in the coming weeks.