Macau’s Golden Week gross gaming revenue up 38% to MOP10.4b

Analyst predicts more record-breaking figures.

According to Maybank Kim Eng, Macau’s gross gaming revenue (GGR) for the Golden Week holidays (1-6 October) topped MOP10.4b, up 38% YoY. 

Here's more:

We forecast October GGR at MOP31.5b, up 13.6% YoY and 8.7% MoM, a figure that could beat the record monthly GGR of MOP31.3b set in Mar 2013. Average daily run rates of MOP1.7b recorded in the first week of the Golden Week holiday are known to taper off in the weeks following the end of the holidays.

Chinese visitor arrivals up just 11% YoY over 1-6 October. The Macau Government Tourist Office recorded 645.9k Chinese visitor arrivals into Macau over 1-6 October, up 11% YoY.

Higher wagers mitigated the slightly lower than expected number of visitors. We believe better transportation accessibility, the easing of checkpoint bottlenecks and an increase in hotel room inventory will continue to boost visitor arrivals.

Galaxy and MGM gain market share at Wynn’s expense. Galaxy and MGM saw the biggest MoM market share gains in the first week of October vis-à-vis competitors.

This took place at the expense of Wynn, whose market share fell by 1.8ppts to a new low of 9%, on poor luck factors and lower hotel capacity due to the ongoing refurbishment.