Tim McNally checks in with Asia Gaming Brief Asia editor Felix Ng to discuss the moves that NagaCorp has been making to offset the decline in international visitation this year. McNally also comments on NagaCorp’s initial thoughts on the China Tourism Blacklist, which we have discussed extensively over the past few weeks.
Arrivals to Macau surged by 97.7 percent month-to-month to 449,085 last month, according to the Statistics and Census Bureau (DSEC). Meanwhile, hotel occupancy reached 16.4 percent.
The National Day Golden Week, which spanned eight days this year, saw a year-on-year decline of 86 percent in the number of visitors to Macau.
The simplification of visa procedures for Chinese visitors is key to drive a more robust recovery in Macau, where this year’s Golden Week figures proved disappointing, according to a note from Bernstein Research.
A sign Beijing is once again ramping up its anti-corruption rhetoric, combined with an increased focus on capital outflows are likely to be further factors hindering recovery in Macau, analysts said.
A Bank of America survey held in August found that only 47 percent of Mainland Chinese travellers who want to visit Macau would be willing to take a Covid-19 test, casting doubt on visitation for the upcoming Golden Week holiday.
Genting Malaysia said it’s seeking to boost domestic demand and visitation at its flagship property in the country, but the overall outlook for the group remains “uncertain.”
The “worst” of the crisis may be over for Resorts World Genting, with a significant improvement in visitation since it reopened three months ago, RHB Research said in a note.
Ha Tien Vegas is the latest of Cambodia’s casinos to restart, with plans to open its doors from Friday, September 18th.
Hotel occupancy rates in the run up to and during the Golden Week holiday are seeing “meaningful” improvement, but average daily rates remain weak, Morgan Stanley says in a note.