Good Morning. Asian gaming jurisdictions have been eagerly waiting for Chinese outbound tourism to pickup, which is now expected to happen within the second half of the year. But while interest in gaming markets is strong, tourism travel trends are changing, along with the demographic. Meanwhile, Labor Day tallies are coming in, with Galaxy and Sands expected to have benefited most due to their large room inventory. The holiday is pushing Macau’s May GGR to potentially be its highest post-pandemic, assuming daily averages stay high.
What you need to know
- The Chinese outbound travel rebound should continue in 2024, however evolving consumer trends may lead to less gaming spend.
- Galaxy and Sands likely benefited most from Labor Day holiday due to their larger hotel room inventory: Citigroup.
- Macau GGR could reach a post-pandemic high in May, ranging between $2.5 billion and $2.58 billion: Seaport analyst.
On the radar
- Macau May GGR could grow 6% m-o-m to $2.45B: CLSA.
- Wynn releases new images of Al Marjan IR, plans to open in ‘early 2027’.
- Macau ferry TurboJET partners with concessionaires to grow non-gaming visitation.
- ASEAN 2024 panel: Integrating CRM, AML, KYC, RG, through Cashless.
- Philippine Senator pushes for probe into illegal workers in gated communities.
- Century Ent. enters agreement to operate 7 VIP tables at Cambodia casino.
AGB Intelligence
CHINA OUTBOUND TOURISM
Chinese outbound tourism travel trends are changing
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 and is more interested in a deep cultural experience than just plopping down at the gaming table or going shopping.
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