Post by Blitz on May 29, 2024 5:50:02 GMT -5
CLSA survey finds premium mass players now more prepared for multiple visits to Macau
by Ben Blaschke Wed 29 May 2024 at 13:59
www.asgam.com/index.php/2024/05/29/clsa-survey-finds-premium-mass-players-now-more-prepared-for-multiple-visits-to-macau/
Premium mass players from mainland China are far more likely to make multiple trips to Macau than pre-COVID, with the lucrative segment continuing to underpin the SAR’s resilience against an uncertain Chinese economy, according to a new survey by investment group CLSA.
The China Reality Research (CRR) survey, which surveyed 800 Chinese nationals with experience gambling in Macau, found that mainland tourists continue to view Macau as an attractive travel destination, with 78% of them stating their intention to visit by 1Q24.
While this was slightly down on the 82% who were planning a visit in the 2023 survey, premium players showed greater strength with 70% of players in the premium mass segment stating plans to visit twice or more in the next 12 months. This compared to 57% during the 2019 survey.
Of the premium mass players, 96% said they would also stay in Macau for two or more nights versus 93% for base mass.
“We continue to note high willingness to visit and spend money in the city, with notable strength among our premium panelists,” CLSA analysts Jeffrey Kiang, Lance Noble and Leo Pan wrote.
“This aligns with our view that premium mass visitors are generally more immune to any macro slowdown, given Macau is a niche market targeting the wealthier ones.”
The analysts also observed that a recent announcement by Beijing expediting the visa application process seemed positive, with 45% of respondents claiming they would accelerate their trip plans to Macau on the back of this. “The government’s expansion of eligible cities under IVS will likely offer support too,” they said.
Boosted by its proximity, Macau remains the preferred destination for mainland players with 48% stating they do not intend to gamble anywhere else. Of those who suggested they would, Singapore is top choice with 20% of respondents naming this as their preferred overseas destination.
by Ben Blaschke Wed 29 May 2024 at 13:59
www.asgam.com/index.php/2024/05/29/clsa-survey-finds-premium-mass-players-now-more-prepared-for-multiple-visits-to-macau/
Premium mass players from mainland China are far more likely to make multiple trips to Macau than pre-COVID, with the lucrative segment continuing to underpin the SAR’s resilience against an uncertain Chinese economy, according to a new survey by investment group CLSA.
The China Reality Research (CRR) survey, which surveyed 800 Chinese nationals with experience gambling in Macau, found that mainland tourists continue to view Macau as an attractive travel destination, with 78% of them stating their intention to visit by 1Q24.
While this was slightly down on the 82% who were planning a visit in the 2023 survey, premium players showed greater strength with 70% of players in the premium mass segment stating plans to visit twice or more in the next 12 months. This compared to 57% during the 2019 survey.
Of the premium mass players, 96% said they would also stay in Macau for two or more nights versus 93% for base mass.
“We continue to note high willingness to visit and spend money in the city, with notable strength among our premium panelists,” CLSA analysts Jeffrey Kiang, Lance Noble and Leo Pan wrote.
“This aligns with our view that premium mass visitors are generally more immune to any macro slowdown, given Macau is a niche market targeting the wealthier ones.”
The analysts also observed that a recent announcement by Beijing expediting the visa application process seemed positive, with 45% of respondents claiming they would accelerate their trip plans to Macau on the back of this. “The government’s expansion of eligible cities under IVS will likely offer support too,” they said.
Boosted by its proximity, Macau remains the preferred destination for mainland players with 48% stating they do not intend to gamble anywhere else. Of those who suggested they would, Singapore is top choice with 20% of respondents naming this as their preferred overseas destination.