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Mass-market players in the Macau casino sector “do not seem to be playing quite as strongly as they have in the past,” said a senior executive from Melco Resorts and Entertainment Ltd during the group’s first-quarter earnings call on Wednesday.
That might be “a function of… a different customer coming in right now,” added David Sisk (pictured in a file photo), the firm’s chief operating officer.
A Monday note from brokerage Sanford C. Bernstein Ltd mentioned Macau’s April casino gross gaming revenue (GGR) had been “steady” even as visitor volume had risen, indicating that the recovery of the Macau tourism sector had involved a “low-value customer” segment in gaming terms.
In Macau and casino operator MGM China Holdings Limited has reportedly announced that it expects its pair of local properties to be at near full capacity for the upcoming Labour Day public holiday.
According to a report from Inside Asian Gaming, the Hong Kong-listed firm made the forecast for the first five days of next month as part of a presentation on its first-quarter financial results while simultaneously declaring that demand from premium-mass and VIP casino players ‘remains strong.’
Busting benchmarks:
A subsidiary of American casino giant MGM Resorts International,
MGM China Holdings Limited is responsible for Macau’s MGM Cotai and MGM Macau venues and reportedly also revealed that room bookings for the coming
In Macau and a senior executive with prominent casino operator Melco Resorts and Entertainment Limited has reportedly detailed that the mass-market gaming sector is taking longer to recover when compared with the VIP and premium-mass segments.
According to a report from GGRAsia, the revelation from the Nasdaq-listed firm’s Chief Operating Officer, David Sisk, came as casinos across the former Portuguese enclave are ramping up in preparation from Saturday for the Labour Day public holiday. The source explained that this five-day celebration is widely expected to see local gambling businesses post their biggest daily numbers since the initiation last year of a two-week shutdown at the hands of the coronavirus pandemic.