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<Research>G Sachs: Limited Impact on MO GGR From Illicit Money Changer Crackdown; GALAXY, MGM See 90%+ Room Booking in CN National Day Golden Wk
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According to a recent Goldman Sachs report, although Macau's gaming companies acknowledged the impact of macroeconomic challenges brought by a slowdown in consumer spending on the sales performance of their mall tenants, they noted that gaming demand has remained resilient across all market segments with steady bet sizes and a continued rise in player count, except that some high-stakes gamblers have become more cautious with their spending. Despite earlier comments from the management of China's travel booking site TRIP.COM-S (09961.HK) that the popularity of Hong Kong and Macau among tourists from Mainland China has declined, both GALAXY ENT (00027.HK) and MGM CHINA (02282.HK) revealed that their hotel room booking rates during the China National Day Golden Week exceeded 90%. The broker also cited various Macau gaming companies as stating that the crackdown on illicit money changers is not a new issue for Macau. Given that Macau's gross gambling revenue (GGR) has remained resilient, the impact on GGR should be limited. AAStocks Financial News |
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