“Unprecedented lineup of events” to dramatically raise Macau’s gaming revenues

According to Citi analysts, a “unprecedented lineup of events” planned by concessionaires would dramatically raise Macau’s gaming revenues. This increase in activities is meant to make up for the usual revenue decline after Golden Week.

According to analysis by analysts George Choi and Ryan Cheung, gaming revenue would reach an almost four-year high of MOP$19 billion (US$2.36 billion) in October. They predict that the MOP$765 million (US$95 million) daily average for the National Day holiday period, which runs from October 1 to 6, would be this amount. This is expected to decrease by around 25% to MOP$575 million (US$71 million) every day for the balance of the month, although it would still be a significant improvement over the 34% decrease in 2019.

Choi and Cheung claim that an incredible schedule of activities has been planned by Macau’s six casino operators for the third quarter of 2023. These activities, which will include performances by Eason Chan, Terence Lam, MC Cheung Tin Fu, and Kelly Chen, are anticipated to boost non-gaming and gaming profits. They predict that the National Day Golden Week will include eight separate events, and they predict that this year’s version of the “post-Golden Week hangover” won’t be as bad.

Based on these factors, analysts increased their gross gaming revenue (GGR) forecast for the fourth quarter of 2023 from MOP$51 billion (US$6.3 billion) to MOP$52.5 billion (US$6.5 billion), which is a 7.4% quarterly growth rate.

Additionally, Citi analysts predict that gaming revenue will increase after reaching a record low in September due to recent weather events like Super Typhoon Saola. By MOP$15 billion (US$1.86 billion) to MOP$16 billion (US$1.98 billion), and by MOP$17 billion (US$2.11 billion) to MOP$17.5 billion (US$2.17 billion), respectively, they cut their estimates for November’s gross domestic product.

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Original story by: IAG