Throughout the first 24 days of September this yr, Macau’s gross gaming revenue (GGR) was calculated to be roughly MOP12 billion, which is roughly $1.49 billion, with MOP500 million, which is roughly $62.1 million each day, as identified by JP Morgan, an funding financial institution based mostly in New York.
The tremendous storm as the rationale for the non permanent closure of the casinos:
In compliance with the knowledge obtained from the generated knowledge, there was a small change for the higher from week to week, as Macau was the goal of a tremendous storm at first of this month, which additional triggered an emergency order for all casinos to briefly shut all through sure hours.
JP Morgan additionally acknowledged in its latest funding memorandum that solely a number of traders appeared involved in regards to the approaching October Golden Week vacation interval. The explanation for that is that they see some normal rooms nonetheless out there on on-line journey company websites. However, they suppose it’s “nearly not possible to get any dependable coloration on Golden Week prematurely based mostly on FIT/exterior room reserving conditions, as vacation GGR is sort of at all times pushed extra by the standard of gamers than the amount, as we’ve been writing for a few years.”
At this time limit, the analysis crew discovered that greater than 90% of rooms at Macau’s lodge casinos are already reserved and “offered out.” Nonetheless, few rooms should not booked on the talked about web sites of on-line journey businesses, however this occurs extra for resorts which are formally opened proper now, aka throughout this month. Examples of such resorts are the Andaz at Galaxy Macau and the W Macau at Studio Metropolis. Talking on this, JP Morgan commented, in keeping with Asia Gaming Temporary: “This doesn’t fear us as a result of it’s fairly regular to have out there rooms even for the height of holidays up to now, notably on the OTA ranges, who pre-purchased the rooms.”
Macau’s mass market to succeed in pre-COVID ranges throughout October:
Because the aforementioned Golden Week will final 8 days this yr and never 7 because it was completed in earlier years, Macau’s mass market might be able to attain pre-COVID ranges throughout the coming month, bringing the whole GGR for the third quarter of 2023 again to 94% to 95%, in keeping with the aforementioned JP Morgan. Moreover, it added: “That is the primary vacation for the reason that reopening when all of the rooms can be found, versus restricted stock in 1H23, amid labor shortages, and so on., and the variety of rooms has truly grown by 15-20 % in comparison with pre-COVID ranges. Our checks with gaming hosts point out a fairly upbeat sentiment, with most anticipating Golden Week to yield the best GGR for the reason that reopening, unsurprisingly so.”
Moreover, Macau tourism authorities predict that Macau might expertise greater than 100,000 guests per day all through the mentioned vacation. Additionally, throughout the first 8 months of the yr, the full variety of vacationers in Macau elevated by 363.1% year-on-year to 17.6 million, and is projected that Macau will get 24 million vacationers by the tip of 2023.
