Good morning. Golden Week was a wash for Macau, but wasn’t as positive as had been expected within China itself either. In our latest podcast, Professor Wolgang Arlt, founder of the China Outbound Travel Research Institute, tells us what Chinese tourists have been doing and what they are likely to want once borders reopen.
What you need to know
- Despite the low level of visitation to Macau over Golden Week, channel checks suggest some high end players made it to the city, Bernstein Research notes.
- Star Entertainment said it will take the “appropriate steps” to address allegations made in a media report that sent its stock plunging almost 23 percent on Monday.
- Analysts at J.P. Morgan expect royal commissions to look into Star Entertainment’s recently exposed conduct, but say a ban on operating in Australia is not likely on the cards.
- Delta Corp. saw a sequential uptick in income from gaming operations in 3Q21, reaching 32.6 crore (US$4.3 million), and has requested a license fee waiver from the Goa Government.
On the radar
- Star Sydney reopens, Queensland operating restrictions ease.
- Sportradar gets ‘buy’ rating in new coverage from Deutsche Bank.
- SJM says Casino Oceanus has reopened after deep clean.
What the papers say
- RWLV corrects system error causing under-withholding of taxes on tips.
Golden Week was a washout for Macau, but even for the rest of China, spending and travel trends were lower than had been expected, according to Professor Wolfgang Arlt, founder of the China Outbound Tourism Institute (COTRI). In this podcast, Professor Arlt discusses some of the latest trends in Chinese tourism, including increasing patriotism and the desire to discover what China has to offer. He also seeks to answer the million-dollar question of when China will open its borders and what kind of pent up demand we are likely to see once they can venture abroad again.
- Wynn and Tork Media to host online AR concert with Jane Zhang
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