Macau Breaks Optimistic 'Golden Week' Figures

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Casino hotspots in Macau recently attracted more than 182,000 tourists during the "Golden Week" holiday, about 89% of whom reportedly traveled from mainland China to former Portuguese residences.

According to a report by GGRAsia, which cited official information from the Macau government tourism agency, the figures for the first seven days of October represent an increase of more than 1,900 percent compared to last year's tally of only 1,166 coronavirus infections. The source also added that the average daily "Golden Week" tally was 32.8% higher than similar figures for the whole of September.

Recent Resurrection:

Macau's government tourism agency reportedly declared that the latest "Golden Week" visitor numbers "exceeded" its own expectations and pointed to a "gradual restoration of travelers' trust in Macau" as a tourist destination. The optimism was overwhelmed by the fact that 37,000 visitors entered the city on Oct. 1, the second-highest number this year and the busiest since the ethnic minority endured an 11-day coronavirus-induced casino lockdown on July.

Abandoned Advice:

Citing figures from the Macau Government Tourism Authority, GGRAsia said hotels in Macau averaged a "Golden Week" occupancy rate of 66.7%, 28.1% higher than the September median. The tally was reportedly more impressive as China's National Hygiene Commission advanced the seven-day vacation period by asking mainland residents to refrain from long-distance travel to prevent the spread of the coronavirus.

Receipt recovery:

All of this seems to have proved very profitable for nearly 40 casinos in Macau, as GGRAsia used a follow-up report showing that Macau's average daily total gaming revenue for the first nine days of October was almost twice as high as the corresponding figure for September. Citing data submitted by U.S. investment bank JPMorgan Chase on Monday, the source said the most recent figure of about $23.49 million far exceeded last month's median figure of $12.24 million, well above the nine-day figure of $210.25 million.

Polite progression:

However, JPMorgan Chase and Company analyst DS Kim reportedly reported that the most recent daily average "Golden Week" total game sales figure was just "15% to 20%" of their tally in the seven days before the 2019 coronavirus, when it topped $123.68 million. Nevertheless, the experienced expert reportedly described the results as "fair" given that Macau has yet to benefit from the resumption of package travel and local eVisa plans. 온라인카지노

Reportedly read a statement from Kim…

"On a segment-by-segment basis, it's estimated that large gaming gross sales have recovered from 30% to 35% of pre-coronavirus 'Golden Week' levels compared to VIPs, with a mid-single-digit recovery."

 

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