The Zhitong Finance App learned that gaming stocks rose collectively. As of press release, Galaxy Entertainment (00027) rose 3.89% to HK$56.05; Huicai Holdings (01180) rose 3.66% to HK$0.85; Aibo Holdings (00880) rose 2.76% to HK$4.09; and MGM China (00282) rose 1.91% to HK$10.86.
According to reports, according to reports, Lu Zhiliang, chairman of the Macau Hotel and Tourism Industry Chamber of Commerce, said that it is estimated that Macau tourism will be very popular during the May 1st Golden Week holiday. According to data from April 25, star hotel rooms for the first three days of the May 1st holiday are almost fully booked, and it is estimated that the occupancy rate for the entire Golden Week will reach 90% or more. Huang Hui, president of the Macau Leisure and Tourism Service Innovation Association, said that the number of group visitors to Macao during the May 1st holiday period will increase by 30% compared to weekdays, and that the average number of visitors per day is expected to be close to 80,000, which is expected to break the record for the highest number of visitors in a single day again.
According to a research report released by HSBC Research, considering the May 1st Golden Week holiday, Macau's gaming revenue for April is estimated to be between MOP 12.7 billion to MOP 12.9 billion, equivalent to about 55% of the April 2019 level. It also means that for the rest of this month, the average daily gambling revenue will range from about 470 million to MOP 500 million. The decline in industry stock prices reflects market concerns that a new wave of COVID-19 may occur. The bank believes that the market is overly concerned and expects the May 1st Golden Week holiday to support short-term stock price performance.