Visitors to Macau during the May Golden Week holiday reached 604,395 with an average of 120,879 visitors per day, according to the Macau Public Security Police.
The total reached 84 per cent of 2019 levels for the same period while the daily average was below the expected average of 130,000 visitors.
Despite the miss, Macau operators reported an estimated gross gaming revenue of US$565m during the holiday, representing a daily average of $113m.
DS Kim of JP Morgan said the increase in VIP players led to daily revenue exceeding prior expectations of $106m.
VIP gross gaming revenue for the holiday returned to 30 per cent of 2019 levels with mass market revenue at an estimated 120 per cent of 2019 levels.
Kim expects Wynn Macau and SJM to report double-digit EBITDA growth for the first quarter while Galaxy Entertainment experiences a decline quarter-over-quarter.
Galaxy Entertainment and Sands China were the most likely beneficiaries from the holiday, according to Citigroup’s Premium Mass table survey.
Galaxy reached 30 per cent of all wagers during the holiday while Sands China recorded 27 per cent.
Source: Fantini's Gaming Report
