Strong visitor numbers during Macau’s current Golden Week vacation indicate that mass gaming revenues are on pace to 100% of pre-COVID levels, according to JP Morgan.
Analysts noticed that tourist visits for the first six days of the eight-day holiday period increased to 90% of pre-COVID levels, up from 84% in the first five days, even though detailed gross gaming revenue (GGR) numbers were not available.
It’s noteworthy that, compared to the first five days, mainland China’s visitor recovery increased noticeably on the sixth day, surpassing 110% of 2019’s Golden Week. The prolonged holiday season and its overlap with the Mid-Autumn festival, a time when family and friends often get together and rejoice, are to blame for this, according to the researchers.
According to JP Morgan’s projections, mainland tourism would approach 80% to 85% levels over Golden Week and should rebound to 85% or higher in accordance with their prior forecasts. The investment bank had earlier predicted that Macau’s mass gaming revenues would revert to pre-COVID levels by October; this prediction seems to be consistent with the visiting patterns seen throughout this Golden Week period.
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Original story by: IAG
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