HSBC says the recent market correction may have been overdone.<\/p>\n\n\n\n\n\n\n\n
Macau.- A report from HSBC notes that Macau gaming operators’ stocks are holding steady<\/strong>, mainly thanks to stable daily gross gaming revenue (GGR) and high hotel bookings ahead of the Chinese New Year holidays.<\/p>\n\n\n\n According to the report by analysts Charlene Liu<\/strong>, Jessie Lu<\/strong> and Lauren Cai<\/strong>, GGR for the first 21 days of January reached MOP13bn (US$1.6bn), indicating an average daily run-rate (ADR) of MOP629m. That’s a 5 per cent increase compared to the preceding week.\u00a0<\/p>\n\n\n\n If the daily run-rate is maintained for the remainder of January, full-month GGR is projected to reach MOP18.5bn to 19bn, signifying a recovery to 74-76 per cent of 2019 levels. The analysts at HSBC believe that the market correction may have been overdone. Despite concerns regarding weak consumer spending, there are positive signs such as steady ADR performance and solid bookings suggesting market fundamentals remain strong.<\/p>\n\n\n\n Year-to-date visitor arrivals to Macau have been averaging between 70,000 to 80,000 per day. The Macau government expects this number to rise to 120,000 during the Chinese New Year holiday.\u00a0<\/p>\n\n\n\n Macau registered\u00a028.2m visitor arrivals in 2023<\/a>, with a daily average of circa 77,000 tourists. This figure was up 394.9 per cent year-on-year and was equivalent to 70 per cent of pre-pandemic 2019 levels. December\u2019s GGR was\u00a0up 15.8 per cent month-on-month<\/a>\u00a0from MOP16.04bn to MOP18.56bn (US$2.3bn). <\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" HSBC says the recent market correction may have been overdone.<\/p>\n","protected":false},"author":176,"featured_media":777011925,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"HSBC analysts suggest the recent market correction for Macau gaming operators' stocks may be overdone, citing stable daily GGR and robust hotel bookings ahead of Chinese New Year. January's GGR is projected to reach MOP18.5bn-19bn, indicating a strong recovery to 74-76% of 2019 levels, supported by increasing visitor arrivals.","focusai_entities":"HSBC, Charlene Liu, Jessie Lu, Lauren Cai","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q1 GGR Outlook","query":"Given the strong January GGR run-rate and Chinese New Year projections, what is the revised GGR outlook for Macau's Q1 2024, and how does this compare to analyst consensus?"},{"label":"Operator Valuation Impact","query":"Beyond GGR, what specific operational leverage or margin expansion opportunities are Macau operators demonstrating that justify HSBC's 'overdone correction' assessment?"}],"footnotes":""},"categories":[16338,163,158],"tags":[23907,23906],"class_list":["post-777012642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012642","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=777012642"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012642\/revisions"}],"predecessor-version":[{"id":777012661,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012642\/revisions\/777012661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777011925"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}