Date: 19 September 2024
Broker: MIB Securities (Hong Kong) Ltd
Strong Mid-Autumn Festival Visitation
Galaxy Entertainment (27 HK) is expected to benefit from a strong surge in visitor arrivals during the Mid-Autumn Festival holiday period. According to GGRAsia, Macau welcomed a daily average of over 114,000 visitor arrivals between 14-16 September 2024, signaling a promising start to the holiday season.
Higher-than-Expected Tourism Numbers
On 16 September, Macau recorded an aggregate of approximately 124,000 visitor arrivals, surpassing the Macau Tourism Office’s guidance of 100,000 daily visitors. This influx of tourists marks a higher-than-expected demand, reflecting robust holiday traffic during the festival period.
Outlook for Golden Week
Galaxy Entertainment is likely to see further benefits from the upcoming National Day Golden Week, which runs from 1-7 October 2024. During the same period in 2023, Macau welcomed 932,000 tourists, with an average of 116,000 visitors per day. This year, the company is expected to capitalize on holiday traffic through its non-gaming offerings, which have helped it gain mass market share in July and August.
Strategic Advantages
With Galaxy Entertainment’s diversified offerings beyond gaming, the company is strategically positioned to leverage the peak travel seasons of Mid-Autumn Festival and Golden Week. These periods are key opportunities for the company to attract a larger customer base and enhance its revenue streams.
This detailed summary presents the relevant information regarding Galaxy Entertainment (27 HK) as provided in MIB Securities’ report dated 19 September 2024.
