Record Revenues and Surprising Players: Macau Golden Week Analysis
Date: 2024-05-07 Author: Robert Beloved Categories: EVENTS
Revenue growth and forecasts
Macau's Golden Week from May 1 to 5, 2024 boosted gaming revenue to PKR 4.55 billion, exceeding JP Morgan analysts' forecasts.
Analysts say the quality of visitors, rather than their quantity, has been the key factor behind this impressive revenue growth. Mass GGR revenue increased by 120% compared to pre-pandemic levels, but VIP gaming revenue decreased by 30%.
Forecasts for the future
Experts warn that Golden Week results should not be extrapolated to the rest of the month. Wynn Macau Ltd and SJM Resorts SA are expected to see double-digit EBITDA growth, but Galaxy Entertainment Group could face a pullback.
It was noted that the best player of this week was a guest from South Korea, which indicates the diversification of the client base. At Galaxy's Horizon Room, the top 3 players each placed bets ranging from HK$250,000 to HK$399,000.
During Macau Golden Week, 37 so-called "whales" with bets of HK$100,000 or more visited the island, slightly less than during Chinese New Year in February.
