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Reports

Strong revenue recovery for CNY, beating previous golden week: Morgan Stanley

Wednesday 07 de February 2024 / 12:00

2 minutos de lectura

(Macao).- The forthcoming Lunar New Year is poised to outperform the last Golden week in terms of industry-wide revenue recovery, recent analysis by Morgan Stanley has suggested.

Strong revenue recovery for CNY, beating previous golden week: Morgan Stanley

According to analysts Praveen K Choudhary and Gareth Leung who compiled average daily rates (ADRs) and room occupancy data, Macau’s hotel supply for the festive occasion is likely to recover to a level 15 percent above that of 2019.

The expected LNY level is also “comparable” to the last golden week, the pair wrote.

The 2023 National Day holiday, as the two pointed out, saw a 72 percent recovery compared to pre-Covid 2019, while visitation was back up to 87 per cent.   

The hotels under Sands China and Galaxy Entertainment Group are forecast to be “doing better”, said the analysts, citing ADRs tracking 50 per cent above that of last October’s Golden Week, and 30 percent above that of the 2019 Lunar New Year.

“We think this shows premium Mass was still the core for growth, though concerts could help grind mass recovery for this CNY, in our view,” they wrote.

Morgan Stanley expects the casino revenue to climb up further – by 4 per cent – to reach MOP20 billion (US$2.5 billion), with MOP691 million per day.

The daily average could even surge to 900 million per day in the week-long holiday – a level that is about 78 per cent of 2019’s and 9 per cent above the last Golden Week’s.

It also suggests a VIP recovery of 30 per cent, as well as a 118 per cent of mass recovery, slightly up from the range of 110 per cent to 115 per cent observed last month.

 

By Aries Un

Categoría:Reports

Tags: Sin tags

País: Macao

Región: Asia

Event

GAT EXPO CARTAGENA DE INDIAS 2024

09 de April 2024

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(Cartagena de Indias, Exclusive SoloAzar) - At GAT Expo Cartagena 2024, Fast Track stood out with its innovative CRM solutions designed specifically for the iGaming industry. Muriel Le Senechal, Solutions Consultant at Fast Track spoke about her good experience at the show, the exceptional feedback at Fast Track's booth, which impressed visitors with its real-time data integration and AI and finally reflected on GAT's 25th anniversary as an evolution in the Latin American gaming industry.

Thursday 18 Apr 2024 / 12:00

Rocío Moitino from AIR DICE: “GAT has developed into a key event for the industry”

(Cartagena, SOLOAZAR Exclusive).-After AIR DICE's visit to the twenty-fifth edition of GAT Expo Cartagena 2024 Rocío Moitino, the company's Sales Director, reviews with us the highest points of the successful exhibition that took place at the Center of Las Américas Conventions, Cartagena de Indias, Colombia.

Wednesday 17 Apr 2024 / 12:00

NOVOMATIC was the epicenter of innovation and entertainment at GAT Cartagena

(Gumpoldskirchen).– GAT Expo, one of the flagship events of the Latin American gaming industry, commemorated its 25th anniversary from April 9 to 11 at the Hotel Las Américas in Cartagena de Indias. As a platinum sponsor, NOVOMATIC dazzled with a superb display of solutions, led by the NOVOMATIC Gaming Colombia team, the local subsidiary of the Austrian Group, and with the participation of renowned executives from Peru, Serbia, Austria and Ecuador.

Wednesday 17 Apr 2024 / 12:00

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