Macau casinos expect tourism boom as Chinese New Year begins

Macau’s casino industry is preparing for a surge in visitors as the Chinese New Year holiday kicks off on January 29, with strong hotel bookings and government measures boosting tourism from mainland China. 

The week-long festivities, which run until February 4, mark a critical period for the gambling hub, with operators hoping for a strong start to the Year of the Snake.  

At least 21 luxury hotels in Macau have sold out for four nights or more during the Chinese New Year period, according to Seeking Alpha. Room rates have reached the upper end of expectations, signaling strong demand.  

Last year, shares of Macau casino operators rallied sharply after the holiday, driven by robust tourist arrivals. Analysts are watching closely to see if this year’s traffic matches or exceeds expectations.  

Tourism is getting an added lift from China’s expanded Individual Visa Scheme (IVS), which now allows multiple-entry access for residents of Zhuhai and Hengqin. The policy is expected to increase daily visitor numbers from these cities by 20,000.  

Chinese New Year is known as the world’s largest human migration, with 510 million rail travelers and 90 million air passengers expected across China, according to RTHK News.  

The Macao Government Tourism Office anticipates daily visitor arrivals could reach 185,000 during the holiday period, further fueling optimism for casino operators.  

While the holiday is expected to provide a short-term boost, analysts remain divided on Macau’s full-year revenue outlook.  

• Macquarie analysts believe forecasts of +6% growth in gross gaming revenue (GGR) for 2025 are too conservative, citing stimulus policies and tourism campaigns.
 
• Seaport Research’s Vitaly Umansky sees potential for +7% GGR growth if China’s economy strengthens.  

• CreditSights’ Nicholas Chen is more cautious, forecasting +4.7% growth, warning that weak consumer confidence could dampen discretionary spending.
  
• JP Morgan analysts expect +5% growth in GGR, with +4% in the first half of 2025 and +7% in the second half.  

• The Macau government remains the most optimistic, projecting MOP 240 billion in GGR for 2025, an 11% increase over 2024.  

With the holiday period set to deliver one of the year’s biggest tourism influxes, Macau’s gaming operators are looking to capitalize on the momentum.