Macau casino sales fell in May, the first year of decline in the year since May 2016. The decline of 5% to us3 3.1 billion does not mean that Macau began playing the 2014-2016 downturn, cratered casino revenue by 36%. In 2019, the lower octane gaming market is expected to shift to a profitable destination as well as gambling, in line with the slow-growing mainland Chinese economy in Macau (https://time.com/4392858/macau-macanese-casinos-revenue/).
Kim, head of Jpmorgan Asia Games, Accommodation and Leisure DS, wrote in a research note that the 5% decline was "not so bad." Kim adds that May marks the third consecutive month Macau gaming revenue has beat expectations; May consensus forecast is 9% consensus Macau Boutique Investment Bank Union Gaming managing Director Grant Governtsen said the Chinese New Year 2018 will be the 2nd month of the year. Since it starts on the 16th 2/5 compared with the 1st, it writes that the 1st suffered almost all of this year's pre-holiday slowdown compared to the 2nd of last year. Credit Suisse research analyst Kenneth Fung cited other unique factors that affected earnings last month, such as a total ban on casinos that came into force on 1/1, tighter liquidity in mainland China ahead of the holidays, VIP players suspended and junkets focused on collections after two months of high house-win rates. to.Check out some interesting insights on the casino industry at https://casino-gambling-network.com/ !
Sanford Bernstein global gaming analyst Vitaly Umansky said: "On a stand-alone basis, 1 month [year-on-year] growth is not as meaningful as compared to the 1 month/2 month combined."This is because the vacation period falls at different times of the year. If you look at both moons, you get the whole picture. Bernstein expects that two months will show a year to a decline in the low single digit year. Other estimates range from a mid-single-digit rise (https://www.ft.com/content/4bcc621a-6920-11e5-a57f-21b88f7d973f).
These figures are interesting, but they miss the big picture. The visit to Macau set a record for 12 months and the entire year. Union Gaming's Governtsen notes that the number of headlines in the 12 months has been inflated by major mainland tourists intent on crossing the Hong Kong-Macau-Zhuhai bridge, and not necessarily meaningful spending. However, the crowds on the streets and on the casino floor in Macau show a very real trend, with hotel occupancy rates rising by more than 3.9% to 91 percentage points.
Overnight visitors accounted for the majority of svenskacasinona.com visitors for the second consecutive year, reaching a record high of 18.5 million. This is more than a million more than last year, and more than in 2014, 3.9 million more people, staying an average of 2.2 days and demanding a night in a hotel room for millions. All operators except SJM Holdings have added thousands of hotel rooms each since 2014 to capture this demand, and in some cases stimulate it. Morpheus, aメ1 billion boutique hotel opened in May, is a modern luxury icon and the world's first free-form high-rise exoskeleton created by acclaimed architect Zaha Hadid, reminiscent of yacht cabins and authentic Chinese and Western fine dining. The interior is exquisitely designed to make you feel comfortable.
Not all casino operators have Morpheus – the 2nd new building with a hole in the middle of Melco – but they all (except for SJM) earn millions of dollars in incremental revenue from those overnight guests. Steve Wynn's genius had, in part, realized that 20% of hotel room revenue goes to the bottom line, compared with about 70% from the game table. As waves of outbound middle-class tourists from mainland China flow into Macau, savvy casino operators will have more paying customers, in addition to those rooms, for meals at attractions other than restaurants, shopping and attractions. That doesn't necessarily mean VIP gaming will generate the revenue numbers of fancy headline casinos (https://wolfstreet.com/2020/06/09/collapse-in-gambling-totally-crushes-macaus-overall-economy/), but it's more profitable to play.
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