Sands China expects fall in gaming revenue amid booking surge during Golden Week

More than 80% of Sands China’s hotel rooms are already secured for the upcoming Golden Week, according to Dr. Wilfred Wong, the company’s president. However, he anticipates that due to changes in the clientele, gaming revenues would fall short of pre-COVID levels.

The confluence of the Mid-Autumn Festival and the National Day vacation, according to Dr. Wong, has made this year’s Golden Week longer than in years past. During Golden Week, the Macao Government Tourism Office forecasts a favorable increase in visitors, with Sands China hotels reporting occupancy rates of 80% to 90%.

The Mid-Autumn Festival, which is celebrated in mainland China from September 29 to 30, is followed by the National Day holiday, which lasts from October 1 to October 6, creating an eight-day Golden Week as opposed to the customary seven-day Golden Week.

According to Dr. Wong, visitor numbers have returned to their pre-pandemic levels, but gaming revenue has not increased to the same levels due to a decline in VIP patronage. He emphasized the need of recruiting Asian visitors given the slow turnaround of foreign flights and the comparatively high expense of long-haul travel.

While Macau’s overall gaming income may not fully recover to pre-COVID levels in the near future, a focus on higher-margin mass markets is anticipated to increase profitability above pre-pandemic levels.

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Original story by: IAG