According to the banking group Jefferies, the growth is mainly attributed to a diverse array of events and concerts that took place over the last quarter of the year 2024.
Macau.- Investment bank Jefferies has reported it expects Galaxy Entertainment Group (GEG) to report a 10 per cent year-on-year earnings before interest, taxes, depreciation and amortisation (EBITDA) increase to HK$3bn (US$385.3bn) in its fourth-quarter 2024 results. EBITDA will also be up 10 per cent in quarter-on-quarter terms.
According to analysts, casino operator sales will grow by 12 per cent sequentially, driven by robust demand in the gaming and entertainment sectors, while gross gaming revenue (GGR) is expected to reach HK$10.9bn (US$1.9bn). That’s a 7 per cent increase from the previous quarter and could surpass the broader industry growth rate of 3 per cent.
The institution added the growth could be attributed to a diverse array of events and concerts that took place over the last quarter of the year 2024.
Analysts also said the ongoing development of Phase III at Galaxy Macau, along with improvements at StarWorld’s level 3, which houses the largest live table games terminals in Macau, could have contributed to the growth.
JP Morgan expects “modest” year-on-year GGR growth over Macau CNY
JPMorgan Securities (Asia Pacific) said that it expects the Chinese New Year (CNY) to be a “modest” event regarding the performance of the Macau casino sector. It forecasts low to mid-single-digits year-on-year growth in GGR.
Analysts DS Kim, Mufan Shi and Selina Li said 99 per cent of casino hotels are fully booked for the peak days of the holiday period. However, this was already observed last year and may not significantly indicate year-on-year growth. This year, Chinese New Year Golden Week will take place from January 28 to February 4.
In 2024, the city’s average hotel occupancy rate peaked at 95.2 per cent during the holiday period, from February 10 to 17. There were 1,357,064 visitor arrivals over the eight days, translating to a daily average of 169,631.
As regards the fourth quarter of 2024, analysts said that Macau achieved its best GGR in 20 quarters even amidst a challenging macroeconomic environment attributed to a crisis in the Chinese economy.
In terms of market share, the brokerage said that Sands China was the largest contributor in the fourth quarter of the year, with a market share of 23.5 per cent of GGR. However, the figure was down almost 100 basis points quarter-on-quarter, mainly due to the renovation of the Londoner Macao rooms.
It was followed by Galaxy Entertainment Group which contributed 19.7 per cent of GGR. MGM China Holdings contributed 15.6 per cent of Macau’s GGR.
SJM Holdings share was 13.6 per cent, followed by Wynn Macau and Melco Resorts & Entertainment with a market share relatively stable in year-on-year terms.
According to the banking group Jefferies, the growth is mainly attributed to a diverse array of events and concerts that took place over the last quarter of the year 2024. Macau.-…
Participe da IGI Expo 2026: https://igi-expo.com/
O iGaming & Gaming International Expo - IGI, é um evento inovador criado para reunir empresas e empreendedores, profissionais, investidores, dos setores de iGaming e jogos. Com foco total em networking, exposição e feira de negócios. Além de ser uma fonte inigualável de informações sobre as tendências e o futuro das indústrias nos próximos anos.
📢 Receba em primeira mão notícias relevantes e fique por dentro dos principais assuntos sobre Igaming e Esportes no Brasil e o mundo. Siga no Whatsapp!
...
