• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Senior Macau casino execs cautious on Golden Week outlook

Sep 30, 2019 Newsdesk Latest News, Macau, Top of the deck  


Senior Macau casino execs cautious on Golden Week outlook

Senior executives at two Macau casino operators have expressed caution regarding the outlook for their respective gaming businesses during China’s National Day holiday period.

Ambrose So Shu Fai, vice chairman and chief executive of SJM Holdings Ltd, was cited by Hong Kong’s Chinese-language news outlet Ming Pao as saying that he observed a “so-so” performance in terms of both VIP gaming in the run-up to so-called “Golden Week”, and bookings for the holiday period for hotel rooms under his firm’s management.

Francis Lui Yiu Tung, deputy chairman of fellow Macau operator Galaxy Entertainment Group Ltd, said on Sunday that the gaming business of Macau casino operators was still being affected by the ongoing United States-China trade war.

China’s State Council has declared October 1 (Tuesday) to October 7 (the following Monday) as this year’s National Day holiday period. The festive break is often referred to in China as autumn Golden Week.

SJM Holdings’ Mr So said he expected tourists from mainland China to choose Macau over Hong Kong for trips during Golden Week. Hong Kong has been affected by months of street protests aimed mostly against the local government there. Nonetheless Mr So expressed concerns over how much mainland visitors might spend in Macau.

Galaxy Entertainment’s Mr Francis Lui referred in his comments – made to Chinese-language newspaper Macao Daily News on the sidelines of a weekend event in the city – to problems that had arisen in relation to a “neighbouring city”. While Mr Lui did not mention a name, it was understood to be a reference to Hong Kong.

A survey last week by GGRAsia suggested significant advanced bookings of hotel rooms for Golden Week. Nonetheless, brokerage Sanford C. Bernstein Ltd had said in a September 23 memo it expected the quality of the gaming customers to be “lower” than during autumn Golden Week last year.

A senior official of Macao Government Tourism Office (MGTO) was quoted last week as saying the city anticipated a possible 15 percent year-on-year rise in visitor numbers during Golden Week.

Macau received more than 890,000 visitors during the October 1 to October 7 period in 2018; nearly 95 percent of them from what were termed “Greater China” markets, according to data from MGTO. The term is typically a reference to the mainland, Hong Kong, and Taiwan. The average hotel occupancy rate of the city’s hotels during autumn Golden Week last year was 92 percent, while that specifically for five-star hotels was 94 percent.

The average room rate of the city’s five-star hotels in the National Day period in 2018 was MOP2,270.30 (US$281), MGTO’s data showed.


  • tweet
Related articles
  • Strong Macau hotel bookings for autumn Golden Week
    Strong Macau hotel bookings for autumn...

    Sep 22, 2023  

  • No swift resumption of dividends for most Macau ops: GS
    No swift resumption of dividends for...

    Sep 19, 2023  

More news
  • Macau govt sets junket cap per casino operator for 2024
    Macau govt sets junket cap per casino...

    Sep 25, 2023  

  • Sands China partners with Kakao Pay to lure S.Korean visitors
    Sands China partners with Kakao Pay to...

    Sep 25, 2023  


Latest News

Macau govt sets junket cap per casino operator for 2024

Macau govt sets junket cap per casino operator for 2024

Sep 25, 2023  

The Macau government has made public the maximum number of licensed gaming promoters – also known as ‘junkets’ – that each of the city’s casino operator will be able to work with in...
Read More
Sands China partners with Kakao Pay to lure S.Korean visitors

Sands China partners with Kakao Pay to lure S.Korean...

Sep 25, 2023  

Wynn Macau Ltd cancels K-pop festival scheduled for Oct

Wynn Macau Ltd cancels K-pop festival scheduled for Oct

Sep 25, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"We [estimate] that these illegal [currency exchange] transactions account for somewhere between 50 percent to 60 percent [of Macau's annual gross gaming revenue]”

Ben Lee

Managing partner at IGamiX Management and Consulting



Most Popular

  • Any Macau clamp on money changing may hurt GGR: punditsAny Macau clamp on money changing may hurt GGR: pundits September 25, 2023
  • Macau govt sets junket cap per casino operator for 2024Macau govt sets junket cap per casino operator for 2024 September 25, 2023
  • Strong Macau hotel bookings for autumn Golden WeekStrong Macau hotel bookings for autumn Golden Week September 22, 2023
  • Wynn Macau Ltd cancels K-pop festival scheduled for OctWynn Macau Ltd cancels K-pop festival scheduled for Oct September 25, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us