CLSA Reports Higher-Than-Expected Macau Golden Week Visitors, Projects 7.4% February GGR Growth

Stock News02-23 17:50

According to a research report from CLSA, Macau received 779,300 visitors during the first five days of the Chinese New Year Golden Week holiday period from February 15 to 19. This represents a 7.4% year-on-year increase on a comparable basis. Even assuming visitor numbers for the remainder of the holiday period remain flat compared to the previous year, total arrivals are still expected to reach 1.486 million, exceeding government forecasts by 6%. The report noted that during a site visit on February 20, the bank observed crowded casino floors and stable minimum betting levels. CLSA forecasts that February's gross gaming revenue will grow 7.4% year-on-year. The median market expectation is for a 10.5% increase, implying a daily average gross gaming revenue of MOP 954 million for the period from February 16 to 28. GALAXY ENT (00027) and MGM CHINA (02282) remain the bank's top picks.

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