Operator News
China – Golden Week attendance at its best since 2019 but casinos to continue making a loss
By Phil - 12 October 2022
Golden Week footfall during Macau’s National Day holiday was the best its been since 2019 although player spend per trip was down by 20 per cent to 40 per cent.
Credit Suisse analysts Kenneth Fong, Lok Kan Chan and Sardonna Fong said: “We continue to see a slow recovery as the qualitative constraints above remain. We expect GGR is likely to stay soft amid COVID regional outbreaks in China and traffic controls around the China Party Congress.”
“We expect October’s full-month GGR to be MOP$4bn to MOP$5bn (US$495m to US$618m), which is at the low end of the street’s expected MOP$5bn to MOP$7bn (US$618m to US$866m). At this revenue, the Macau operators are likely continue to be in loss making mode.”
