Macau’s casinos have rebounded strongly from the struggles of September, with the average daily rate (ADR) during Golden Week coming in at around MOP$1.3 billion according to analysts at brokerage house Sanford C Bernstein.
ADR figure of MOP$9.1 billion represents a 78% increase on September ADR, 52% increase on August and 23% year-on-year increase on October 2017.
The figures were aided by Golden Week, which saw total visitation grow 7.2% year-on-year to 895,242 across the first seven days of the month. As a result, Bernstein estimates mass volume to be up between 22% and 23% year-on-year and VIP volume by around 15%.
“I am not seeing any pressure, by the way, from any government units whether they are from the China’s central government or local, that basically discourage mainland Chinese visitation to Macau. It has already been notable that for the past decade the central government has wished for us in Macau to really transform ourselves into not just a place perceived as a gaming destination… I believe, we all have done a very good job in demonstrating our capabilities”, said Pansy Ho Chiu King (pictured), co-chairperson and executive director at Macau casino operator MGM China Holdings Ltd
The Macau government has been encouraging the operator to develop or build non-gaming facilities with international standards too, regarding the transformation the country wants to have a Macau for all kind of visitors and the benefits don’t go just for the gambling sector.
“We are really using the local know-how and we are all working towards building a better Macau and therefore, we should earn the trust and confidence of the local authorities.” Ms Ho stated.
