Tourism and table drop are returning to Macau with the Macao Government Tourism Office (MGTO) stating on Friday that daily visitor numbers have not fallen below 50,000 since the Chinese New Year holidays. The CNY Lunar New Year fell not long after the government in Beijing relaxed its zero-Covid policy on January 8, opening up travel in the country and lifting border restrictions after years of constricted footfall and revenue flow. The casino business was in serious decline prior to that move.

The Spring Festival Golden Week holiday ran from January 21 through January 27 this year with an average visitor count of about 64,000 – tripling the number of visitors from the same period in 2022. Macau saw a total of 451,000 visitors during Chinese New Year Golden Week this year.

Visitor Numbers Remain Strong

According to a report from Inside Asian Gaming, MGTO Deputy Director Cheng Wai Tong noted that visitor numbers have remained strong thanks to a shift in the way people are traveling. Also noting that international flights are returning slowly, especially regarding departures to Southeast Asia, he said that a restoration of the flights would result in a first wave of foreign visitors coming from Southeast Asia.

“The end of the Chinese New Year holidays is a low season for self-guided tourists, but the mainland has resumed group tours, so I believe we can increase the number of visitors in the future,” he added.

“The number of group tours is gradually increasing and MGTO will continue to monitor the situation of the tourism industry.”

Earlier reports indicated the MGTO was considering offering incentives to outside travelers such as reduced-price accommodations to visitors from Hong Kong as well as other concessions for people coming in from Taiwan.

However, Friday’s information seems to indicate that may no longer be the case, perhaps because numbers are relatively strong already.

“At present, the MGTO mainly handles group tours from the mainland, while the hotel concessions for Hong Kong visitors are being studied and does not have a timetable for launch,” Cheng explained.

Fewer Players Betting More

While daily visitor numbers are still averaging less than half of what they were before the pandemic, the people who are coming are betting more. Citigroup Global Markets Inc. surveyed players on the mass gaming floors and premium mass players, excluding “whales” or junket rooms from the numbers.

The Citigroup survey observed 490 players gambling at premium mass tables during CNY with an average bet of a little more than $3,000 per hand (US$3082/HKD 24,178). The average bet amount was about 45% higher than it was in the 2019 period of observation. The average minimum bet was still in line with that of 2019 at about $285 (HKD 2,235) per hand across all 15 casinos.

Wynn has reportedly recovered 95% of its table drop compared to pre-Covid levels. The recovery percentages would likely be much less for some of the operators that were still actively hosting junkets and super high roller “tours” in 2019 but have shifted more to mass gaming and other attractions now.

Sports and Tourism to Continue Growth

According to another report from the local outlet, Macau’s Social Affairs and Culture office said on Thursday that all six casino concessionaires will need to submit plans for sporting events in March. The government had required all to commit to non-gaming attractions and is developing a sports with tourism plan to coordinate major events with the operators.

Some events have already been organized and will just need to be coordinated with the government. All six operators are longtime sponsors of the Macau Grand Prix. Other events already in the works include the Galaxy Entertainment Macao International Marathon, Sands China Macao International 10k race, and the MGM MACAU International Regatta.

Source: MGTO says Macau averaging 50,000 visitors daily since CNY

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Citigroup Global Markets Inc. has completed a research paper on Macau gambling that covers the recently ended week-long Chinese New Year (CNY) celebrations. Some of the numbers draw direct comparisons between CNY 2019, the last pre-Covid tally, and CNY 2023 the first time the government has allowed free travel since the start of the pandemic.

The number of gamblers was not as high this year as it was in the same period in 2019, but according to a GGRAsia report on the gambling survey and analysis, the amount bet on each hand was “much higher” than in the previous period.

The surveys focused on premium mass gambling floors and mass gambling, rather than VIP rooms and junket tables.

One player observed in the survey reportedly bet about US$92,500 (HKD 725,000) on a baccarat bet at MGM Macau’s premium mass area.

Fat Stacks of Chips – Big Bets

In Cotai at Wynn Palace, Citigroup surveyors reported that one gambler was observed with “an approximately HKD 6-million chip stack in front of him, and he was betting HKD 300,000 a hand,” according to the report.

January 27th was the last day of the seven-day Chinese holiday marking the lunar new year and celebrated all over the world. However, most CNY celebrations outside of mainland China, Macau, and Hong Kong – which are special administrative districts of China – only saw local revelers as mainland Chinese failed to travel outside of areas administered by the Chinese government as citizens reorient themselves to a world without draconian health controls.

Government data counted nearly half a million visitors to Macau over the Chinese New Year week, nearly 3x as many as visited last year, but only about a third as many as in pre-pandemic 2019 CNY. The official numbers showed 451,047 visitors arrived throughout the so-called Golden Week, an increase year-on-year of 297%.

Gross gaming revenue in Macau reportedly swelled over 232% over the previous month with the explosion of travel, gambling, and revenues coinciding with the mainland government ending its zero-Covid policies.

Comparing the number of players observed in “premium mass” areas, the report indicated that just under 500 players were observed over the course of the week. That was a little more than half as many as were found around high-limit table games in the 2019 survey.

Fewer Players Betting More

While there were fewer players at the premium tables, the players were betting more this year than during the comparable period in early 2019. The 490 players observed over the week gambling at premium mass tables bet an average of just over $3,000 per hand (US$3082/HKD 24,178). The average bet was 45% higher this year than it was in 2019.

The obvious takeaway from those two topline observations is that player numbers were down, but higher-quality players visited the premium mass gaming areas in Macau for the holidays during this period.

Across the mass gaming floors of 15 major Macau casinos, the average minimum bet observed was about $285 (HKD 2,235), roughly in line with the average minimum bets of February 2019. While close to the value of 2019 bets, it’s important to note that this year’s numbers were up about 2% but only 1% shy of the record average minimum bet observed a few months before the 2019 survey period. Some hotels in Macau were sold out during CNY in 2019.

Source: Jaw-dropping wagers in Macau CNY survey: Citigroup, GGRAsia, February 2, 2023

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