Macau's casino hotspots have attracted more than 182,000 visitors during the recent "Golden Holiday" holiday, about 89% of whom reportedly traveled from mainland China to their former Portuguese enclave.

The figures for the first seven days of October are up more than 1,900% compared with just 1,166 last year due to the coronavirus, according to a report by GGRAsia, which cited official information from the Macau government tourism agency. The source also described the "Golden Week" tally of about 26,000 people per day on average as impressive as 32.8% higher than a similar figure for the whole of September.

Recent Resurrections:

The Macau government tourism agency reportedly declared that the most recent "Golden Week" visitor numbers had "exceeded" its own expectations and pointed to a "gradual recovery of traveller confidence" in Macau as a tourist destination. That optimism was dominated by the fact that 37,000 visitors entered the city on Oct. 1, the second-highest number this year and the busiest since it endured an 11-day coronavirus-induced casino lockdown in July.

Abandoned Advice:

Citing figures from the Macau government's tourism agency, GGRAsia said hotels in Macau had an average "Golden Week" occupancy rate of 66.7%, 28.1% higher than the median for September. The tally was all the more impressive because China's National Health Commission pre-established a seven-day holiday period by requiring mainland residents to avoid long-distance travel to prevent the spread of the coronavirus.

Recovering Receipts:

All this appears to prove highly profitable for nearly 40 casinos in Macau, with GGRAsia noting in a follow-up report that Macau's average daily gross gaming revenue was almost twice that tally in September in the first nine days of October. The source cited data submitted by U.S. investment banks JPMorgan Chase and Company on Monday, noting that the most recent figure, about $23.49 million, was well over the median of last month's $210.25 million.

Respectful proceedings:

However, JPMorgan Chase & Co. and company analyst DS Kim reported that the most recent average daily "Golden Week" gaming gross sales were only about 15% to 20% when it topped $123.68 million in the same seven-day tally in 2019, prior to the coronavirus. Nevertheless, the experienced expert described the results as "respectful" given Macau is yet to benefit from the resumption of package travel and the local eVISA scheme.

According to reports, he read Kim's affidavit…

"By sector, it is estimated that gross revenue from large games has recovered to between 30% and 35% of pre-coronavirus "Golden Week" levels relative to VIPs with a recovery rate in the mid-single digits."