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Post by Blitz on Feb 19, 2024 6:02:27 GMT -5
Macau visitor arrivals during eight-day Chinese New Year holiday total 1,357,803 by Ben Blaschke - Mon 19 Feb 2024 at 03:45 www.asgam.com/index.php/2024/02/19/macau-visitor-arrivals-during-eight-day-chinese-new-year-holiday-total-1357803/The total number of visitor arrivals entering Macau during the eight-day Chinese New Year holiday period reached 1,357,803 at an average of 169,725, up 164% compared with the same period in 2023, according to information from the Public Security Police Force. The daily average was not only well above last year’s average of 64,424 arrivals per day but fell only marginally shy of the average 173,355 arrivals per day during the 2019 CNY holiday. It also shattered the Macao Government Tourism Office’s projections, with MGTO director Maria Helena de Senna Fernandes having previously said the agency expected around 960,000 arrivals during Golden Week at an average of 120,000 per day. This year’s Golden Week concluded on Saturday with 125,234 arrivals, the lowest daily figure since 121,356 people entered Macau on the first day of the holiday period. There were two days of more than 200,000 visitor arrivals, with Day 3 setting a new post-pandemic high of 217,451 arrivals followed by another 201,023 arrivals on Day 4. Over the course of the eight days there were 1,034,503 arrivals from mainland China, contributing 76.2% of the total, while Hong Kong added another 253,453 or 18.7%. By mode of arrival, 490,254 entered Macau via the Border Gate, 324,420 by the Hong Kong-Zhuhai-Macau Bridge and 202,806 via the Hengqin Port. There were also 180,058 arrivals by ferry and 75,242 by air. Separately, the MGTO revealed an average hotel occupancy rate of 95.2% during Golden Week, peaking at 97.9% on Day 4, based on figures provided by industry operators. The average room rate of Macau’s hotel establishments was around MOP$1,922 (US$239), up 23.4% year-on-year, it added. |
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Post by Blitz on Feb 19, 2024 8:15:12 GMT -5
Macau achieves best-ever performance in premium mass during CNY: Citigroup Viviana Chan - February 19, 2024 agbrief.com/news/macau/19/02/2024/macau-achieves-best-ever-performance-in-premium-mass-during-cny-citigroup/Macau has just witnessed its best-ever performance in the premium mass segment during the Chinese New Year (CNY), with Galaxy Entertainment emerging as the market share winner, according to Citigroup. In a continuous market survey conducted by the investment bank Citigroup, the research team observed a robust performance in premium mass segments during the CNY Golden Week, marked by the highest player count since reopening and a record-high total wager. Citigroup notes that the number of premium mass players observed during this year’s CNY was 777, which is only 16 percent less than that of CNY-19. However, the total wager observed amounted to a record-high HK$23 million ($2.9 million), which is 49 percent higher compared to CNY in 2019. Analysts George Choi and Ryan Cheung note that the figures above imply that the quality of the players remains ‘extremely high’, as the average wager per player of HK$29,624 ($3,788) is 77 percent higher than that of CNY in 2019. It is merely HK$9 ($1.2) less than October 2023’s average of HK$29,633 ($3,789). Based on the survey results, the research team expects that the increase in Macau’s visitation during the CNY Golden Week will not materially dilute the quality of the premium mass players. The number of whales observed was a record-high 41 compared to 27 during CNY in 2019. In this context, a ‘whale’ describes players whose bet size ranges from HK$100,000 to HK$500,000 ($12,800 – $64,000) per hand or more. Macau achieves best-ever performance in premium mass during CNY: Citigroup Galaxy as premium mass market share winner The brokerage concludes that Macau gaming operator Galaxy Entertainment ranks number one in the premium mass segment survey with a 28 percent market share. This represents a market share gain, as Galaxy’s market share was only 25 percent last year and 24 percent in 2019. ‘Its Horizon Room at Galaxy Macau remains the top premium mass room in terms of total wager, observing a record-breaking HK$4.2 million ($520,000) this month. We saw 10 whales while we were there, which is the most seen in a single room.’ The survey also finds that Sands’ Apex Room at Plaza is the top premium mass room in terms of wager per player at HK$66,545 ($8,509). ‘This is also the only room in Macau where we saw HK$30,000 ($3,836) minimum bet tables, with a total of four present.’ MGM China, Cotai-Macau Baccarat insurance bets at MGM Recently, baccarat insurance bets have been offered at the Supreme high-limit rooms at MGM Macau and MGM Cotai. Citigroup notes that if the insurance bet is perceived by players as an effective way to minimise losses and gains popularity among players, this will enhance hold rates. In addition, the survey also finds that Macau casinos continue to offer small freebies on the floor to keep players engaged, including, for example, Peking Duck at the Qilong Club at City of Dreams, Moutai ice cream at both Wynn Palace and Studio City, and Irish coffee at Grand Lisboa Palace. |
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Post by Blitz on Feb 20, 2024 6:14:30 GMT -5
This article mentions the HZMB Bridge. It's a true marvel that China built this huge expansive bridge from Hong Kong to Macau and it has been so purposefully underutilized for so so long. It opened in 2016. China has purposely limited usage. So, it has been very slow to meaningfully facilitate Macau tourism and casino-IR numbers. For example, with the bridge there is absolutely no good reason to still be using ferries. And now this... MACAU WRAPS UP WITH 1.5 MILLION VISITORS IN 10-DAY CNY RENATO MARQUES, MDT TUESDAY, FEBRUARY 20, 2024 - 10 HOURS AGO NO COMMENTS 952 VIEWS macaudailytimes.com.mo/macau-wraps-up-with-1-5-million-visitors-in-10-day-cny.htmlFollowing a 10-day Spring Festival (CNY) Golden Week that included the Lunar New Year’s Eve and the Sunday after the Golden Week, the earlier forecast by the Public Security Police Force (PSP) turned out to be the most accurate. According to the PSP, it was expected border movements would reach between 5.5 to 6 million over the 10 days of the CNY holidays from Feb. 9 to 18, which eventuated yesterday and which was shown in yesterday’s final figures. According to the figures released for the 10 days, 5,833,510 border movements were recorded. From these, over 3 million were movements related to visitors’ entry and exit, with total visitor entries reaching 1,524,823. During the same period, the PSP recorded 876,987 departures of Macau residents and the entry of some 911,939, totaling 1,788,926 border movements, i.e., 30.67% of all border movements registered in this season. As expected, the busiest border post was the Border Gate accounting for 1.16 million crossings. It was followed by the Hong Kong-Zhuhai-Macau Bridge (HZMB) Post with over 700,000. The border post with the third largest movement was the Macau Port Area at Hengqin Port, which recorded 457,233 crossings. The majority of those arriving from Hong Kong have done so via the HZMB (181,452). For those taking the Ferry, the preferred route was the Taipa Ferry Terminal (36,306). Those traveling from Hong Kong by ferry who arrived at the Outer Harbour Ferry Terminal surpassed 25,000. Foreign visitors arrived mostly via the HZMB (34,090), followed by the Macau International Airport (11,343) and the Outer Harbour Ferry Terminal (11,770). |
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Post by Blitz on Feb 20, 2024 6:30:12 GMT -5
Chinese dragons are symbolic of being lucky, propitious, powerful, and noble; not as monsters as they are portrayed in Western stories. The year of the dragon could be very good for Macau's GGR all year long and just CNY... as the masses try their luck. Mass market is right in the middle of LVS' wheelhouse too. And now this... Macau February GGR to grow 80% y-o-y to $2.36 billion: JP Morgan Viviana Chan - February 20, 2024 agbrief.com/news/macau/20/02/2024/macau-february-ggr-to-grow-80-y-o-y-to-2-36-billion-jp-morgan/After observing robust Chinese New Year (CNY) casino revenue, analysts from JP Morgan expect Macau’s February gross gaming revenue to increase by 80 percent from the previous year to MOP19 billion ($2.36 billion). In the latest investment memo, JP Morgan notes that the projection represents the highest run-rate of MOP650 million ($80.6 million) per day in over four years. This is compared to the highest print recorded in October, with GGR staying at MOP629 million ($78 million) per day. The optimistic outlook should also drive 1Q24E GGR to grow mid or high single-digit on a quarter-to-quarter basis. ‘This, coupled with largely upbeat 4Q23 earnings so far, indicates the direction of consensus revision is (very) likely to be positive, bucking overall trends in the China consumer/leisure space amidst China consumption/macro headwinds.’ According to the data provided, Macau’s GGR for the first 18 days of February was MOP12.5 billion ($1.55 billion), translating into MOP694 million ($86.1 million) per day, representing a 75 percent recovery versus the comparable period in 2019. This also implies a daily run-rate of MOP715 million ($88.7 million) for the past two weeks (encompassing an eight-day CNY holiday). The data provided show that daily GGR for the peak CNY holidays (Day 4-7) likely hit the MOP1 billion ($124 million) mark for the first time in over four years, exceeding MOP900 million ($111.7 million) run rates during the last Golden Week in October. In this context, analysts think that Macau’s mass GGR recovered to 120 percent of the 2019 CNY period, about 10 percentage points higher than the pace of recovery in recent months. ‘All-in, we’d characterize this CNY performance as good enough to meet the recently elevated expectations of the market,’ it wrote. Macau VIP Junkets VIP volume 10-14 percent higher from January In another investment memo from Citigroup, analysts point out that VIP volumes observed this month were 10 to 14 percent higher on a month-over-month basis, while mass volumes were 8 to 10 percent higher from January. Citigroup notes that the VIP hold rate appears to be below the normal level; however, the research team doesn’t indicate the reason. The brokerage emphasizes that they are ‘consecutively’ keeping the February GGR forecast unchanged at MOP19.5 billion ($2.42 billion), which is 77 percent of 2019 levels. |
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