Macau casino stocks generally rose, as of the time of publication, Melco Int'l Dev (00200) rose by 5.17% to HKD 4.27; MGM China (02282) rose by 4.72% to HKD 10.64; Wynn Macau (01128) rose by 3.9% to HKD 5.33.
According to the AI Finance APP, Macau casino stocks generally rose, as of the time of publication, Melco Int'l Dev (00200) rose by 5.17% to HKD 4.27; MGM China (02282) rose by 4.72% to HKD 10.64; Wynn Macau (01128) rose by 3.9% to HKD 5.33; Sands China (01928) rose by 3.32% to HKD 15.58; Galaxy Ent (00027) rose by 2.31% to HKD 31.05.
On the news side, according to media reports, during the first three days of the Golden Week holiday, seven hotel rooms were sold out, including hotels under Macau Gambling, MGM China, Wynn Macau, and Galaxy Ent. Ma Haowen, Vice Chairman of Successuniverse (487), the operator of the "Sands Cotai" project in Macau mentioned that the occupancy rate of their hotels during the first three days of the Golden Week holiday is expected to reach around 80 to 90%, with confidence in reaching full capacity. In addition, Grant Bowie, President and Executive Director of MGM China, stated that the current booking situation for two hotel rooms in Macau is ideal, with an expected occupancy rate of 95% to 100% during the Mainland China's National Day Golden Week.
Morgan Stanley previously pointed out that it is expected the hotel average daily room rate and occupancy rate during this October's Golden Week in Macau would be similar to the same period last year. The bank anticipates a daily gaming revenue of 0.9 billion MOP (Macau Patacas) and a total gaming revenue of 20 billion MOP for the whole month of October, implying a 1% year-on-year increase. Compared to the Golden Week in May, the daily room rate seems to be stronger. The bank noted that the Macau Tourism Bureau roughly and conservatively estimates that the daily visitors during the Golden Week will exceed 0.1 million people. The bank expects Macau's mid-term gaming revenue to recover to 114% to 115% of the same period in 2019.