Strong visitation numbers during the current Golden Week holiday period appear to have Macau’s mass gaming revenues on track to hit 100% of pre-COVID levels, according to investment bank JP Morgan.
In a Thursday note, analysts DS Kim, Mufan Shi and Selina Li said this was in-line with earlier estimates albeit without any actual GGR figures to go off. Instead, they pointed to Golden Week visitor arrivals fir the first six days of the eight-day holiday period, which hit 90% of pre-COVID levels on Wednesday (Day 6) versus 84% over the first five days.
Notably, “The pace of mainland [China] visitor recovery ramped up sharply on Day 6, printing 110% of 2019’s Golden Week versus 75% in the first five days,” the analysts wrote.
