Macau daily GGR to reach US$99.1m during Labour Day break, analysts say

Morgan Stanley predicts daily gross gaming revenue of MOP800m to MOP850m.

Macau.- Morgan Stanley Asia predicts that this year’s Labour Day holiday season will generate daily gross gaming revenue (GGR) of between MOP800m (US$99.1m) and MOP850m. This would be 73 to 77 per cent of the 2019 level and 5 to 10 per cent below this year’s Chinese New Year between February 10 and 17.

Morgan Stanley’s study of 28 Macau hotels revealed that the average daily room rate was tracking at about 80 per cent of the level recorded for the 2019 Labour Day holiday period. The survey on Monday (April 22) covered seven travel nights from April 30 to May 6 inclusive, representing a period before and after the five-day Chinese mainland holiday period.

Morgan Stanley observed that MGM China Holdings “looks better than peers” as both of its properties show growth versus Chinese New Year and May 2019. On the other hand, Sands China hotels, including Venetian, Four Seasons, and Parisian, seem to be experiencing a bigger decline in the average daily room rate and occupancy, which could be partly due to renovation works taking place at some properties. 

See also: Macau GGR estimated at US$1.5bn for first 3 weeks of April