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2024-04-23 10:57:22 According to a research report released by UBS, based on surveys conducted in industry channels, Macau's GGR daily run-rate for the past seven days rose to MOP600 million, despite the inclement weather last weekend, compared to the MOP586 million for the previous week. The GGR last week is estimated to have reached the level of about 76% of 2Q19, with mass GGR even reaching the level of about 110-115% of the 2Q19 level. During the month, mass volume fell by about 4-5% MoM, while VIP volume dropped by about 5-6% MoM, with the hold rate at a lower level of 2.6-2.8%, resulting in a month-to-date GGR daily run-rate of MOP595 million, a 5% MoM decline. The broker pointed out that Macau's average daily visitor arrivals in March were 88,000, down from 103,000 in January and February due to the holiday effects. For the Labour Day holiday later in the year, the Macau Government Tourism Office (MGTO) expected daily visitor arrivals to be 130,000, lower than the 170,000 for the 2024 Lunar New Year, compared with an average of 158,000 per day during the 2019 Labour Day period. UBS remained optimistic about the Macau gaming sector, with top picks being Melco Resorts & Entertainment (MLCO.US) and SANDS CHINA LTD (01928.HK). ~ AAStocks Financial News Web Site: www.aastocks.com | |