New hotel opening drives VIP traffic, boosting Macau’s weekly gaming revenue
Operators raise May GGR forecast to MOP211–217bn amid stronger-than-expected performance.
Key points:
– Average daily GGR rose to MOP686m ($85.1m) from MOP593m in previous week
– VIP segment saw 25–30% jump in turnover, aided by new hotel soft launch
– May’s full-month GGR forecast lifted from MOP210bn to MOP212.5bn
Macau’s gaming revenue saw a significant lift last week, with average daily gross gaming revenue (GGR) climbing to MOP686m, marking a 16% week-on-week increase.
According to analysts cited by Macao Daily, the improvement was largely driven by the soft opening of a new integrated resort property that attracted a wave of VIP customers.
UBS noted that Macau’s GGR between 19 and 25 May rose sharply from the MOP593m recorded the week prior, pushing the month-to-date daily average to MOP700m – an 11% increase from April.
Middle-market performance also improved, with analysts estimating a 10% month-on-month rise. Meanwhile, the VIP segment posted a notable jump, with turnover increasing between 25% and 30%. Win rates for VIP rooms were reported to be in the 3.5% to 3.7% range.
Good to know: The introduction of high-end hotel offerings has coincided with a rebound in premium player activity
Citigroup has revised its projection for May’s full-month GGR from MOP210bn to MOP212.5bn, noting the increase corresponds to around 82% of the levels seen in May 2019. Analysts attributed the better-than-expected performance to the influx of high-value visitors drawn by the new venue.
HSBC offered a similar outlook, stating that May’s daily GGR is trending 11% higher than April, well above the typical seasonal increase of 3%. With remaining daily GGR expected to range between MOP600m and MOP700m, HSBC anticipates May’s total GGR to fall between MOP211bn and MOP217bn, reflecting a 4% to 7% year-on-year rise.
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