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Macau’s Gaming Revenue Set for Growth Despite Labor Day Visitor Dip

May 7, 2024 Macau Industry Updates

According to CLSA’s prediction, Macau’s gross gaming revenue (GGR) is expected to increase by 6% on a monthly basis in May, amounting to MOP19.7 billion ($2.45 billion).

This is in line with Morgan Stanley’s predictions, although being somewhat below market expectations, suggesting optimism for the gaming industry in the area.

During Labor Day Golden Week, analysts Jeffrey Kiang and Leo Pan note a significant increase in foot traffic, with particular activity at large casinos such as Grand Lisboa Palace and MGM Cotai.

The range of minimum bets for baccarat tables, from MOP1,000 to MOP1,500, suggested a lively gaming atmosphere.

Because of the poor weather, Macau’s Labor Day visitor count was fewer than anticipated, but the tourist destination is still aggressive. In an effort to promote integrated growth, 16 passengers have already been accepted under the Macau-Hengqin multi-entry visa system.

Helena de Senna Fernandes of the Macao Government Tourism Office believes that this is an opportunity for Macau and Hengqin to work together and innovate in tourism offerings.

Fernandes guarantees that the introduction of the new visa would not affect Macau’s hotel occupancy rates, considering the high level of competition among hotels.

As summer holiday planning gets underway, Macau continues to be flexible and strong despite shifting travel trends.

Original Story by: Asian Gaming Brief

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