Macau's total gaming revenue in January was about 9.706 billion yuan, an increase of 23.3% from a month earlier, the first increase since February 2022.
With the continuous optimization of epidemic prevention policy and the tourism boom of the Spring Festival, Macao's gaming industry came to life again in January this year.
According to the Gaming Supervision and Coordination Bureau (DICJ), Macau's total gaming revenue in January was 11.58 billion patacas (about US $1.43 billion, 9.706 billion yuan), an increase of 82.5 percent year on year and 23.3 percent month-on-month, the first increase since February 2022 and the highest since January 2020.
Since January 8, Macao has optimized its epidemic prevention rules and implemented the nucleic acid-free customs clearance policy, and the number of inbound tourists has continued to increase. The number of visitors to Macao during the Spring Festival Golden week was about 451000, a year-on-year increase of about three times, including 265000 from the mainland. The average house price of hotels, apartment hotels and budget accommodation in Macau is about 1575 patacas during the Golden week, an increase of nearly 50 percent over last year's Spring Festival.
Media analysts pointed out that although the number of mainland visitors to Australia during the Spring Festival Golden week is far less than 900000 in 2019, the gaming industry is recovering strongly. Sands China said when it released its fourth-quarter results on January 26th that the profitability of the gaming industry in January this year far exceeded expectations and grew faster than the number of visitors.
Grant Chum, chief operating officer and executive director of Sands China, said:
We have seen a very strong recovery in the gaming industry. If you look at Macau, the number of tourists is about 40% of the 2019 Lunar New year holiday, but our income is much higher than 40% at that time.
JPMorgan Chase & Co analyst DS Kim said in the latest report that they are surprised by the speed and extent of the recovery of Macau's gaming industry. Kim said:
Most investors were surprised by the level of demand in the gaming industry during the Lunar New year.
Analysts surveyed by the media also raised their revenue forecasts for Macau's gaming industry this year, raising the median forecast to 222 per cent from 195 per cent a month ago.
As of press time, Hong Kong stocksGaming Unit (BK1114.HK) The plate rose more than 2.5%, and the constituent stocks rose generally.
Edit / phoebe