The\u00a0average occupancy rate of hotels in Macau\u00a0during the holiday period was 63.8 per cent.<\/p>\n\n\n\n\n\n\n\n
Macau.- A Melco PR manager has pointed out that the casino operator saw an average occupancy rate of 70 per cent <\/strong>during the Chinese New Year holiday period.<\/p>\n\n\n\n The\u00a0average occupancy rate of hotels in Macau\u00a0<\/strong>during the holiday period was 63.8 per cent. From January 31 to February 6, the average occupancy rate of local hotels increased by 15.2 percentage points compared with last year. The occupancy rate of five-star hotels was the highest<\/strong> at 70.3 per cent, an increase of 19.3 percentage points.<\/p>\n\n\n\n Sanford C. Bernstein Ltd<\/strong>\u00a0has reported that Macau\u2019s gross gaming revenue (GGR) for the Chinese New Year period was up 60 per cent when compared to\u00a02021<\/a>. Macau welcomed\u00a0113,699 visitors\u00a0<\/strong>during the Chinese New Year period, up 25.4 per cent year-on-year.<\/p>\n\n\n\n Bernstein analysts added the CNY performance was \u201cbetter than expected\u201d. They now estimate that February\u2019s monthly GGR will be 29 per cent higher than January<\/a>, but still 68 per cent lower than January 2019.<\/p>\n\n\n\n Melco Resorts has confirmed that it ceased all junket arrangements at Studio City casino in December 2021. In a filing submitted under the US Securities Exchange Act, Melco Resorts said it had expanded its VIP rolling chip business to the Studio City Casino but decided to cease all transactions with junket operators<\/strong>.<\/p>\n\n\n\n The decisions were taken as authorities tightened regulations on VIP junket promoters after the arrests of Alvin Chau<\/a> and Levo Chan Weng Lin<\/a>, the heads of Suncity Group Holdings and Tak Chun Group<\/strong>, two of the city\u2019s largest junket groups.<\/p>\n","protected":false},"excerpt":{"rendered":" The\u00a0average occupancy rate of hotels in Macau\u00a0during the holiday period was 63.8 per cent.<\/p>\n","protected":false},"author":176,"featured_media":20789,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Melco Resorts reported a 70% hotel occupancy rate in Macau during the Chinese New Year, contributing to a 60% year-on-year increase in Macau's GGR for the period, though still significantly below 2019 levels. Concurrently, Melco confirmed the cessation of all junket arrangements at its Studio City casino in December 2021, shifting to an in-house VIP rolling chip model amidst tightened regulatory scrutiny following high-profile arrests within the junket sector.","focusai_entities":"Melco, Melco Resorts, Sanford C. Bernstein Ltd, Alvin Chau, Levo Chan Weng Lin, Suncity Group Holdings, Tak Chun Group, Studio City casino","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.95), compliance_legal (0.9), operator_casino (0.9), payments_fraud_aml (0.75), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Outlook","query":"What are the revised GGR projections for Macau for Q1 and Q2, considering the better-than-expected CNY performance and the ongoing impact of regulatory changes on the VIP segment?"},{"label":"Melco VIP Strategy","query":"How will Melco Resorts' internalization of its VIP rolling chip business impact its NGR margins and market share within the premium mass and direct VIP segments in Macau, post-junket cessation?"}],"footnotes":""},"categories":[157,16338],"tags":[23970],"class_list":["post-27132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-melco-resorts-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27132"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27132\/revisions"}],"predecessor-version":[{"id":27141,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27132\/revisions\/27141"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20789"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Melco confirms end of agreements with junket promoters<\/h2>\n\n\n\n