From Macau★ Casinos thrive during the year-end and New Year holidays

Hotel bookings in Macau remained strong from Christmas through the New Year holidays. Major hotels were nearly fully booked, especially during weekends and the Christmas holiday period. According to the Hotel and Travel Industry Association, visitor numbers during this period are expected to increase by 5-10% compared to the same period last year. Casino revenue for December 2013 is also projected to reach a high level, second only to October, which set a record for a single month. This was reported by NNA, which disseminates economic information in Asia.

Macau's tourism industry is booming. Casino revenue is also expected to continue double-digit growth.

 

According to the Hong Kong Economic Journal, from December 20, 2013, through New Year's Day, 11 out of 17 major hotels were fully booked during the holiday period, indicating robust demand. Among them, the over 2,000 rooms operated by three companies—MGM China Holdings, Wynn Macau (U.S.-based), and Stanley Ho's SJM Holdings—were fully booked for the period. A spokesperson for Hotel Okura, Macau's sole Japanese-owned hotel, stated on December 19th, "We are nearly fully booked. The situation improves year after year."
Accommodation rates have also risen by about 10% to meet increased demand. According to the Macau Daily News, rates for December 27 and 28 reached MOP 2,500 to 2,600 per room even at three-star hotels (1 MOP ≈ ¥13).

The increase in visitor numbers also drove casino revenue to high levels. December is traditionally a busy period, with both December 2010 and December 2012 setting new monthly records for their respective years. Citibank projected December 2013 casino revenue at 32 billion patacas, a 15% increase year-on-year.
A Barclays Securities report indicated casino revenue grew steadily from mid-December, reaching 6.2 billion patacas for the six casino operators combined between the 10th and 15th of that month. This equates to 1.03 billion patacas per day, a 9% increase from the 947 million patacas recorded for the first nine days of the month. The report forecasts a 18.5% year-on-year increase for December as a whole.
Casino revenue hit a record monthly high in October at 36.477 billion patacas, a 31.7% year-on-year increase. December is expected to follow closely behind that level. Last year, casino revenue fell to single-digit growth five times on a monthly basis due to a decline in mainland visitors affected by China's economic slowdown. For the full year, it grew 13.5% year-on-year, a sharp deceleration from the previous year's 42.2% growth.