Friday, June 21, 2024
HomeNewsMacauMacau May GGR could grow 6% m-o-m to $2.45B: CLSA

Macau May GGR could grow 6% m-o-m to $2.45B: CLSA

Brokerage CLSA predicts that Macau’s gross gaming revenue (GGR) in May could grow by 6 percent month-on-month, amounting to MOP19.7 billion ($2.45 billion).

While CLSA’s forecast is slightly lower than the market consensus of MOP19.9 billion and Citigroup’s estimate of MOP20 billion ($2.49 billion), it aligns with Morgan Stanley’s projection of MOP19.7 billion ($2.45 billion).

Macau, April GGR reaches $2.29B, down 4.9% m-o-m

In a recent research report, analysts Jeffrey Kiang and Leo Pan emphasized the strong foot traffic observed in Macau’s casinos during the Labor Day Golden Week (May 1st – 5th), along with positive average daily visitation and hotel bookings.

The analysts noted significant foot traffic at various establishments including Grand Lisboa Palace, MGM Cotai, The Londoner, Four Seasons, The Venetian, Grand Lisboa, MGM Macau, and Wynn Macau, including the bustling gaming floors.

According to their observations, the minimum bets commonly found on baccarat tables ranged from MOP1,000 ($125) to MOP1,500 ($187). In high-roller rooms, the minimum bets ranged from MOP3,000 ($373) to MOP10,000 ($1,246).

Analysts project Macau’s GGR to reach $2.3B in April

Lower-than-expected visitor arrivals for Labor Day

During the five-day Labor Day break, Macau received a total of 604,395 tourists, with an average of 120k per day. This number is lower than the Macau authorities’ projection of 130k per day.

Helena de Senna Fernandes, Head of the Macao Government Tourism Office (MGTO), commented on Monday that the lower-than-expected visitor arrivals in Macau were due to the bad weather, which affected the willingness to travel. She promised that the government will work to prepare for the summer holidays.

On Monday, the Macau-Hengqin multi-entry visa for Chinese nationals on tour groups was also launched. Macau received its first tour group under the scheme, with 16 tourists. Fernandes believes that the implementation of the new visa is an opportunity for the integrated development of Macau and Hengqin.

She said that under the new tourism model, she hopes that the tourism industry will explore and conceive new tourism products to better integrate the attractions in Macau and Hengqin and give tourists more choices.

Multi-entry visa policy for Macau-Hengqin challenges hotels

The Macau-Hengqin multi-entry visa allows tour group visitors to stay at budget hotels in Hengqin and visit Macau during the day. The Head of MGTO considers that the new scenario will not affect the occupancy rate of hotels in Macau. The occupancy rates of high-star and low-star hotels in Macau are good, and the number of budget or two-star hotel accommodations added in recent years is also competitive.

Viviana Chan
Viviana Chanhttps://agbrief.com/
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.

MORE ARTICLES

FOLLOW US

daily newsletter