Golden Finance News | Macau casino stocks collectively rise, with Wynn Macau (01128) up 2.52%, Paradise Entertainment (01180) up 2.2%, Melco Int'l Dev (00200) up 1.76%, Sands China (01928) up 1.66%, and MGM China (02282) up 1.37%.

According to statistics from the Statistics and Census Service of the Macau SAR government, total consumer spending by tourists in the first three quarters of 2024 increased by 8% year-on-year to 56.21 billion Macau patacas, mainly driven by a substantial 30.1% increase in tourist arrivals in the first three quarters compared to the same period last year. Among them, the total consumption of overnight and non-overnight tourists increased by 5.1% and 22.9% respectively on an annual basis. Compared to the same period in 2019, total tourist spending increased by 17.5%. During the period, the average per capita tourist spending was 2,168 patacas, down by 17% year-on-year, but a 36.9% increase from the same period in 2019. Tourist spending was mainly on shopping, followed by lodging and dining.

Goldman Sachs research pointed out that Macau's gambling revenue in October increased by 7% year-on-year to 20.8 billion Macau patacas, reaching 79% of the 2019 level. The bank expects that Macau's gambling revenue growth will slow to a year-on-year stability or, based on traditional seasonal factors, estimates daily gambling revenue to range between 0.56 billion and 0.63 billion Macau patacas. Looking ahead to next year, except for Galaxy Ent, most Macau casino operators have limited capital expenditures for expansion or upgrading, and the industry's valuation remains relatively low. The bank maintains a "buy" rating for Galaxy Ent, Sands China, MGM China, and Melco International Dev.