Galaxy Entertainment market share to grow in Q4, analysts say

Analysts expect Galaxy Entertainment Group’s market share to grow due to non-gaming events.

Macau.- Analysts at Seaport Research Partners have predicted that Galaxy Entertainment Group’s market share in Macau will grow in the fourth quarter of the year mainly due to non-gaming events. According to analysts, the October Golden Week holiday, which brought 916,000 visitors to Macau, played a significant role, with visitor numbers at Galaxy Macau almost doubling and the mass drop showing 50 per cent annual growth.

Analysts indicated that enhanced marketing strategies and smart casino tables will also support Galaxy’s position, potentially driving market share growth in the fourth quarter and in 2025. However, analysts said the casino operator’s market share fell by 40 basis points sequentially to 18.7 per cent compared in the third quarter of the year.

Macau GGR expected to reach MOP18bn in November

Bank of America Securities has forecast that Macau’s gross gaming revenue (GGR) will reach MOP18bn (US$2.25bn) in November. That would be a decrease of 13.5 per cent month-on-month but a rise of 12.1 per cent compared to November 2023. It would be 78.6 per cent of the GGR recorded in the same month of 2019, before the Covid-19 pandemic.

In October, GGR was MOP20.79bn (US$2.60bn). That’s an increase of 6.6 per cent year-on-year and 20.5 per cent compared to the previous month. It was the city’s best monthly performance since January 2020 at the beginning of the Covid-19 pandemic (MOP22.13bn).

The rise in revenue was mainly attributed to the October Golden Week holiday, a seven-day public holiday in Mainland China, which brought 916,000 visitors to Macau. The Macau Hoteliers and Innkeepers Association reported at the time that the city’s average hotel occupancy rate had peaked at 95 per cent.