Macau casinos: Golden Week GGR to reach US$112.1m, analysts say

Analysts at Morgan Stanley Asia predict that October’s full-month GGR could top MOP20bn (US$2.4bn).

Macau.- Morgan Stanley Asia estimates that Macau’s gross gaming revenue (GGR) could reach MOP900m (US$112.1m) during the upcoming Golden Week and MOP20bn (US$2.4bn) for October as a whole. The latter would be an increase of 1 per cent in year-on-year terms.

The holiday period will take place from October 1 to 7 inclusive. Analysts Praveen Choudhary and Gareth Leung noted that average daily hotel rates and occupancy are tracking similarly to October 2023 while rates seem stronger compared to the May Golden Week.

Analysts said they expect mass GGR during the October Golden Week to reach up to 115 per cent of 2019 levels. VIP is expected to be 23 to 25 per cent, similar to the second quarter of this year.

The Macao Government Tourism Office (MGTO) said that it expects Macau to see an average of 100,000 visitors a day during the holiday period. Last year, Macau saw 932,000 tourists during the holiday, averaging 116,000 visitors per day.

Earlier this month, CLSA reported that 80 per cent of Macau hotels were already fully booked for the October Golden Week.