Macau Gaming Revenue Set for Strong Spring Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy MLCO?
Source: seekingalpha
- Record Visitor Numbers: Macau welcomed approximately 1.55 million visitors during the Spring Festival Golden Week, with single-day arrivals exceeding 227,000 on the third day of the holiday, marking a historic high and indicating strong market demand and recovery potential.
- Optimistic Revenue Forecast: According to Jefferies' latest analysis, Macau's gaming revenue is expected to achieve low to mid-teens growth in March, driven by relatively easy comparisons and robust premium market performance.
- High Hotel Occupancy Rates: Macau's hotel occupancy rates remain in the mid-90s, with average daily rates up by mid to high teens compared to 2025, reflecting the tourism sector's recovery and strong market demand.
- Intensifying Market Competition: Despite strong growth momentum in the first half of the year, analysts anticipate increased competition in the second half, particularly for premium operators like Galaxy Entertainment and Wynn Resorts, making market share battles more complex.
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Analyst Views on MLCO
Wall Street analysts forecast MLCO stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 5.610
Low
9.50
Averages
11.21
High
12.55
Current: 5.610
Low
9.50
Averages
11.21
High
12.55
About MLCO
Melco Resorts & Entertainment Ltd is a Company engaged in the development and operation of resort facilities. The Company is engaged in the operation of casinos in Macau and Philippines. The Company operates three casinos based in Macau, namely, City of Dreams, Altira Macau and Studio City. In addition, the Company is engaged in the operation of hotels in Macau and Manila.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Macau Gaming Revenue Set for Strong Spring Growth
- Record Visitor Numbers: Macau welcomed approximately 1.55 million visitors during the Spring Festival Golden Week, with single-day arrivals exceeding 227,000 on the third day of the holiday, marking a historic high and indicating strong market demand and recovery potential.
- Optimistic Revenue Forecast: According to Jefferies' latest analysis, Macau's gaming revenue is expected to achieve low to mid-teens growth in March, driven by relatively easy comparisons and robust premium market performance.
- High Hotel Occupancy Rates: Macau's hotel occupancy rates remain in the mid-90s, with average daily rates up by mid to high teens compared to 2025, reflecting the tourism sector's recovery and strong market demand.
- Intensifying Market Competition: Despite strong growth momentum in the first half of the year, analysts anticipate increased competition in the second half, particularly for premium operators like Galaxy Entertainment and Wynn Resorts, making market share battles more complex.
See More
Macau Gaming Revenue Rises 4.5% Year Over Year
- Revenue Growth: According to the Gaming Inspection and Coordination Bureau, Macau's gross gaming revenue (GGR) rose 4.5% year over year to 20.6 billion patacas ($2.6 billion), exceeding the market expectation of a 1% increase, indicating a strong recovery momentum.
- Holiday Impact Analysis: Although January's GGR was 22.6 billion patacas, the average daily arrivals during the Chinese New Year increased by 5.5%, with hotel occupancy rates reaching an impressive 95.6%, highlighting the positive impact of the holiday on gaming revenue.
- Market Performance Comparison: For the first two months of 2026, Macau's GGR increased by 13.9% year over year to 43.3 billion patacas ($5.4 billion), although still below pre-pandemic levels in 2019, it shows signs of gradual recovery.
- Industry Outlook: With operators focusing on premium mass markets and non-gaming attractions benefiting from strong traffic, Macau's gaming sector is expected to continue its growth trajectory, particularly during holidays and peak tourism periods.
See More
Macau's Chinese New Year Golden Week Sees Record Visitation
- Surge in Visitors: Macau welcomed approximately 1.55 million visitors during the Chinese New Year Golden Week, with single-day arrivals exceeding 227,000 on the third day, marking a historic high and indicating strong tourism recovery that is expected to boost February gaming revenue.
- High Hotel Occupancy: Hotel occupancy rates remained in the mid-90s, with average daily rates increasing by mid- to high teens compared to 2025, reflecting robust travel demand and enhancing confidence in Macau's overall economic recovery.
- Market Structure Shift: Some integrated resorts may have returned to near-2019 premium-mass levels during the peak of the holiday, highlighting a structural shift towards mass-driven profitability, even as the VIP segment remains comparatively softer.
- Positive Market Outlook: Jefferies anticipates continued market growth in Macau through mid-year, although future revenue comparisons will become more challenging, with analysts viewing recent updates as positive for premium-exposed stocks like Wynn Macau and Galaxy Entertainment.
See More
Melco Resorts Included in S&P Sustainability Yearbook 2026
- Sustainability Achievement: Melco Resorts ranks in the 96th percentile of its industry group in the 2025 S&P Global Corporate Sustainability Assessment, improving from the 92nd percentile last year, highlighting its leadership position globally.
- Yearbook Selection Criteria: Over 9,200 companies were assessed for the 2025 evaluation, with only about 800 selected for the Yearbook, requiring a score within the top 15% of their industry and a CSAScore within 30% of the top-performing company.
- Climate and Water Score Improvement: Melco has consistently achieved a B score for CDP Climate and improved its CDP Water score from B to A-, demonstrating its ongoing commitment to environmental management and progress.
- Strategic Commitment and Future Vision: CEO Lawrence Ho emphasized the company's dedication to driving real change through its 'RISE' sustainability strategy, highlighting the importance of annual assessments in evaluating its impact in key focus areas.
See More
Macau Sees Record Visitor Traffic During Chinese New Year Holiday
- Visitor Traffic Analysis: Macau welcomed 551,623 visitors in the first four days of the Chinese New Year holiday, averaging about 138,000 arrivals per day, which is approximately 8.4% lower than the same period in 2025, yet still above the 100,000 visitor threshold deemed profitable by local businesses.
- Record Single-Day Arrivals: The region set a new single-day record with around 227,943 visitor arrivals and over 750,000 total cross-boundary movements during the holiday, indicating strong appeal and market vitality.
- Gaming Revenue Expectations: Analysts forecast that combined gross gaming revenue for January and February will rise approximately 13% year-over-year after adjusting for festival timing, with growth anticipated in both premium-mass and mass segments, while the VIP segment is expected to lag slightly, reflecting shifts in market dynamics.
- Holiday Performance Outlook: Despite a decline in overall visitor numbers, analysts generally believe that Macau's casino operators are on track to post holiday gaming results that exceed expectations, suggesting optimism about future profitability and market potential.
See More
Latest Ratings and Outlook from Wall Street
- Nvidia Rating Reaffirmed: Citi reiterates Nvidia as a buy, anticipating the stock will outperform in the second half of 2026 as demand visibility extends into 2027, recommending investors add to their positions given attractive valuations.
- Toast Upgraded to Outperform: Bernstein upgrades Toast from market perform to outperform, noting that despite a 26% year-to-date decline, the restaurant tech company is positioned as an AI winner, suggesting a positive outlook.
- Carvana Maintains Overweight Rating: JPMorgan reiterates Carvana as overweight, asserting that fears surrounding AI are overblown, with the company's vertically integrated infrastructure providing a unique competitive moat to leverage AI effectively.
- Melco Upgraded to Buy: UBS upgrades Melco from neutral to buy, highlighting that despite a 27% year-to-date decline, enhancements at its City of Dreams in Macau are expected to offset margin pressures and branding fee increases in 2026.
See More
Macau Gaming Revenue Set for Strong Spring Growth
- Record Visitor Numbers: Macau welcomed approximately 1.55 million visitors during the Spring Festival Golden Week, with single-day arrivals exceeding 227,000 on the third day of the holiday, marking a historic high and indicating strong market demand and recovery potential.
- Optimistic Revenue Forecast: According to Jefferies' latest analysis, Macau's gaming revenue is expected to achieve low to mid-teens growth in March, driven by relatively easy comparisons and robust premium market performance.
- High Hotel Occupancy Rates: Macau's hotel occupancy rates remain in the mid-90s, with average daily rates up by mid to high teens compared to 2025, reflecting the tourism sector's recovery and strong market demand.
- Intensifying Market Competition: Despite strong growth momentum in the first half of the year, analysts anticipate increased competition in the second half, particularly for premium operators like Galaxy Entertainment and Wynn Resorts, making market share battles more complex.
See More
Macau Gaming Revenue Rises 4.5% Year Over Year
- Revenue Growth: According to the Gaming Inspection and Coordination Bureau, Macau's gross gaming revenue (GGR) rose 4.5% year over year to 20.6 billion patacas ($2.6 billion), exceeding the market expectation of a 1% increase, indicating a strong recovery momentum.
- Holiday Impact Analysis: Although January's GGR was 22.6 billion patacas, the average daily arrivals during the Chinese New Year increased by 5.5%, with hotel occupancy rates reaching an impressive 95.6%, highlighting the positive impact of the holiday on gaming revenue.
- Market Performance Comparison: For the first two months of 2026, Macau's GGR increased by 13.9% year over year to 43.3 billion patacas ($5.4 billion), although still below pre-pandemic levels in 2019, it shows signs of gradual recovery.
- Industry Outlook: With operators focusing on premium mass markets and non-gaming attractions benefiting from strong traffic, Macau's gaming sector is expected to continue its growth trajectory, particularly during holidays and peak tourism periods.
See More
Macau's Chinese New Year Golden Week Sees Record Visitation
- Surge in Visitors: Macau welcomed approximately 1.55 million visitors during the Chinese New Year Golden Week, with single-day arrivals exceeding 227,000 on the third day, marking a historic high and indicating strong tourism recovery that is expected to boost February gaming revenue.
- High Hotel Occupancy: Hotel occupancy rates remained in the mid-90s, with average daily rates increasing by mid- to high teens compared to 2025, reflecting robust travel demand and enhancing confidence in Macau's overall economic recovery.
- Market Structure Shift: Some integrated resorts may have returned to near-2019 premium-mass levels during the peak of the holiday, highlighting a structural shift towards mass-driven profitability, even as the VIP segment remains comparatively softer.
- Positive Market Outlook: Jefferies anticipates continued market growth in Macau through mid-year, although future revenue comparisons will become more challenging, with analysts viewing recent updates as positive for premium-exposed stocks like Wynn Macau and Galaxy Entertainment.
See More
Melco Resorts Included in S&P Sustainability Yearbook 2026
- Sustainability Achievement: Melco Resorts ranks in the 96th percentile of its industry group in the 2025 S&P Global Corporate Sustainability Assessment, improving from the 92nd percentile last year, highlighting its leadership position globally.
- Yearbook Selection Criteria: Over 9,200 companies were assessed for the 2025 evaluation, with only about 800 selected for the Yearbook, requiring a score within the top 15% of their industry and a CSAScore within 30% of the top-performing company.
- Climate and Water Score Improvement: Melco has consistently achieved a B score for CDP Climate and improved its CDP Water score from B to A-, demonstrating its ongoing commitment to environmental management and progress.
- Strategic Commitment and Future Vision: CEO Lawrence Ho emphasized the company's dedication to driving real change through its 'RISE' sustainability strategy, highlighting the importance of annual assessments in evaluating its impact in key focus areas.
See More
Macau Sees Record Visitor Traffic During Chinese New Year Holiday
- Visitor Traffic Analysis: Macau welcomed 551,623 visitors in the first four days of the Chinese New Year holiday, averaging about 138,000 arrivals per day, which is approximately 8.4% lower than the same period in 2025, yet still above the 100,000 visitor threshold deemed profitable by local businesses.
- Record Single-Day Arrivals: The region set a new single-day record with around 227,943 visitor arrivals and over 750,000 total cross-boundary movements during the holiday, indicating strong appeal and market vitality.
- Gaming Revenue Expectations: Analysts forecast that combined gross gaming revenue for January and February will rise approximately 13% year-over-year after adjusting for festival timing, with growth anticipated in both premium-mass and mass segments, while the VIP segment is expected to lag slightly, reflecting shifts in market dynamics.
- Holiday Performance Outlook: Despite a decline in overall visitor numbers, analysts generally believe that Macau's casino operators are on track to post holiday gaming results that exceed expectations, suggesting optimism about future profitability and market potential.
See More
Latest Ratings and Outlook from Wall Street
- Nvidia Rating Reaffirmed: Citi reiterates Nvidia as a buy, anticipating the stock will outperform in the second half of 2026 as demand visibility extends into 2027, recommending investors add to their positions given attractive valuations.
- Toast Upgraded to Outperform: Bernstein upgrades Toast from market perform to outperform, noting that despite a 26% year-to-date decline, the restaurant tech company is positioned as an AI winner, suggesting a positive outlook.
- Carvana Maintains Overweight Rating: JPMorgan reiterates Carvana as overweight, asserting that fears surrounding AI are overblown, with the company's vertically integrated infrastructure providing a unique competitive moat to leverage AI effectively.
- Melco Upgraded to Buy: UBS upgrades Melco from neutral to buy, highlighting that despite a 27% year-to-date decline, enhancements at its City of Dreams in Macau are expected to offset margin pressures and branding fee increases in 2026.
See More
