Analysts also predict a quarter-on-quarter increase of 4 per cent.<\/p>\n\n\n\n\n\n\n\n
Macau.- China International Capital Corporation Hong Kong Securities (CICC) has projected that Macau\u2019s gross gaming revenue (GGR) <\/strong>for the fourth quarter of the year will rise 5 per cent in year-on-year terms and 4 per cent compared to the third quarter.<\/p>\n\n\n\n Analysts Shengyong Goh<\/strong>, Jiayu Wang <\/strong>and Liwei Hou<\/strong> said\u00a0the growth would be driven by the appreciation of the renminbi against the Hong Kong dollar, which is expected to attract more visitors and increase their spending capacity. They noted that the final quarter benefited from a strong October Golden Week, the seven-day holiday period which saw 916,000 visitors in the city<\/a>. Consumer confidence is also projected to strengthen, supported by a series of stimulus policies introduced by the Chinese government.<\/p>\n\n\n\n The analysts mentioned that non-gaming events <\/strong>might have contributed to boosting the number of visitors. Operators are hosting non-gaming events, such as concerts, residency shows, sports events, and art exhibitions, more frequently. In the current quarter, analysts expect concerts from Andy Lau and Dao Lang, as well as UFC Fight Night, to be particularly attractive.<\/p>\n\n\n\n Analysts at\u00a0JP Morgan Securities (Asia Pacific)\u00a0have estimated that\u00a0Macau\u2019s GGR<\/strong> for the first 20 days of October was\u00a0MOP14.6bn (US$1.8bn). The estimated GGR run rate was MOP$730m (US$91.1m) a day.<\/p>\n\n\n\n According to CICC, Macau\u2019s GGR will reach US$28.17bn in 2024 and US$30.30bn in 2025, up 24 and 8 per cent respectively in year-on-year terms. Analysts estimated that Macau\u2019s industry-adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) will reach US$8.12bn in 2024 and US$9.15bn in 2025.<\/p>\n\n\n\n In September, GGR was MOP17.25bn (US$2.15bn). The figure was up 15.5 per cent year-on-year but down 12.7 per cent compared to the previous month<\/a>. It was the lowest monthly tally of the year and was down by 21.8 per cent compared to September 2019, partly due to super typhoon Yagi. Cumulatively, Macau\u2019s GGR for the first nine months of 2024 was MOP169.3bn (US$21bn), up 31.3 per cent year-on-year but below the same period in 2019 (US$27.4bn).<\/p>\n\n\n\n According to preliminary data,\u00a0Macau received 25.94 million tourists in the first nine months of this year. That\u2019s a rise of 30.2 per cent year-on-year and represents 85.9 per cent of the pre-Covid volume in 2019. The count for international tourists reached nearly 1.68 million, up 95.2 per cent year-on-year rise but only 70.8 per cent of the figure from 2019. In January, the director of the MGTO,\u00a0<\/strong>Maria Helena de Senna Fernandes<\/a>, stated that the city aimed to\u00a0attract around 3 million foreign visitors<\/a>\u00a0this year.<\/p>\n","protected":false},"excerpt":{"rendered":" Analysts also predict a quarter-on-quarter increase of 4 per cent.<\/p>\n","protected":false},"author":176,"featured_media":22068,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"China International Capital Corporation Hong Kong Securities (CICC) projects Macau's Q4 GGR to increase by 5% YoY and 4% QoQ, driven by renminbi appreciation, Golden Week, Chinese stimulus, and non-gaming events. Analysts forecast Macau's GGR to reach US$28.17bn in 2024 and US$30.30bn in 2025, with corresponding EBITDA growth. While recent GGR and tourist arrivals show strong year-on-year recovery, they remain below 2019 levels.","focusai_entities":"China International Capital Corporation Hong Kong Securities (CICC), Shengyong Goh, Jiayu Wang, Liwei Hou, JP Morgan Securities (Asia Pacific), Andy Lau, Dao Lang, UFC, MGTO, Maria Helena de Senna Fernandes","focusai_location":"Macau, China, Hong Kong","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.98), marketing_crm (0.7), investor_analyst (0.99), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Forecast Sensitivity?","query":"What specific macroeconomic or geopolitical factors could significantly alter CICC's GGR and EBITDA projections for Macau in 2024 and 2025, particularly concerning renminbi appreciation or Chinese stimulus policies?"},{"label":"Non-Gaming Impact Analysis?","query":"Beyond visitor numbers, what is the projected incremental GGR contribution from the increased frequency of non-gaming events, and how does this impact the long-term diversification strategy of Macau's concessionaires?"}],"footnotes":""},"categories":[16338,163,158],"tags":[23906],"class_list":["post-777020094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020094","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=777020094"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020094\/revisions"}],"predecessor-version":[{"id":777020118,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020094\/revisions\/777020118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22068"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Macau GGR to reach US$28.17bn in 2024, analysts say<\/h2>\n\n\n\n