Stock Track | Galaxy Entertainment Soars as Macau Visitor Arrivals Surge During Golden Week

Stock Track10-07

Shares of Galaxy Entertainment Group, a leading casino operator in Macau, soared by 10.23% on October 7, 2024, as the gaming and tourism hub witnessed a significant influx of visitors during China's Golden Week holiday period.

Macao Tourism Data revealed that the city received a total of 916,301 visitors between October 1 and October 6, representing a daily average of 152,716 visitors, an increase of 32.3% compared to the same period last year. Notably, mainland Chinese visitors accounted for 773,985 arrivals, with a daily average of 128,997, reflecting a remarkable 47.2% year-on-year surge.

Analysts attribute the robust visitor traffic to Macau's growing appeal as a tourist destination and the pent-up demand for travel and entertainment among Chinese tourists after the COVID-19 restrictions were lifted. UBS, in a research note, stated, "We believe the robust visitor traffic in Golden Week reflects Macau's attractiveness as a tourist attraction."

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment