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<Research>M Stanley Forecasts MO Oct GGR at MOP20B; ADR Seems to be Stronger than May
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Morgan Stanley, in its research report, expected that Macau's hotel average daily rates (ADR) and occupancy data during the October Golden Week holiday in 2024 will be similar to those of the same period last year. Among which, the broker expected a daily GGR of MOP900 million and a total monthly GGR of MOP20 billion in October, which will represent a YoY increase of 1%. Compared to the Golden Week in May, the ADR in October seems to be even stronger, which proves that Macau is more resilient than the Chinese consumer market. The Macao Government Tourism Office (MGTO) roughly and conservatively estimated that the number of daily visitors to Macao during the Golden Week period will surpass 100,000, the broker pointed out, while assuming that Macau's mass GGR will return to 114%-115% of the same period in 2019. AAStocks Financial News |
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