CLSA has raised Macau gaming operator SJM’s EBITDA forecast by 9.3 percent for the calendar year of 2024 following the company's strong first-quarter results.

Brokerage CLSA predicts that Macau's gross gaming revenue (GGR) in May could grow by 6 percent month-on-month, amounting to $2.45 billion.

Macau’s 2024 gross gaming revenue (GGR) is likely to be up 34 percent from 2023, according to the brokerage CLSA, which says the forecast is 3.5 percent higher than its prior estimates after a positive Chinese New Year.

Four weeks ahead of the Chinese New Year (CNY) weekend (10-11 February), CLSA's four-week leading average hotel prices have already surged by 27 percent year-on-year. Simultaneously, ten out of the 33 tracked Macau hotels operated by the broker are fully booked for that weekend.

Genting Singapore has seen its rating upgraded from “outperform” to “buy” by CLSA, after Las Vegas Sands released its results for the second quarter of this year.

Operators in Asian gaming jurisdictions need to prepare themselves, as Chinese outbound tourism is expected to rebound this year, finally. However, trends are shifting significantly, as a younger demographic is choosing to travel by themselves.

A top analyst is forecasting that Macau’s gross gaming revenue in May could hit its highest monthly tally so far this year, and the highest since the onset of the pandemic, at $2.5 billion, even potentially going as high as $2.58 billion.

Hong Kong may continue to serve as one of Macau’s leading source markets, despite undergoing continuous reshaping of its consumer market, with minimal impacts on GGR.

Macau's shift to a non-gaming focus has operators on a balance beam, trying to weigh increased visitation with financial return. Experts tell AGB that diversification is a solid goal for any gaming jurisdiction, but that gross gaming revenue is still key, even as a younger demographic tends to be more predominant.

The fight for market share among Macau gaming operators is becoming a concern among investors, while the Asia gaming hub is expected to experience a moderating pace of revenue recovery in 2024.