Monday, May 23, 2022

Shanghai Disneyland threatens Macau non-gaming


Non-gaming spending in Macau will continue to be threatened by Shanghai Disneyland, said Morgan Stanley in a note on Monday.

“Average spending per capita of RMB2,200 (US$331) at Shanghai Disneyland is comparable to non-gaming spending in Macau. With 60 percent Chinese visitors at Shanghai Disneyland outside of Shanghai, cannibalization for Macau could continue,” said the brokerage.

According to the analysts, risks to non-gaming spending in Macau include RMB devaluation, similar per capita spending between Macau and consumers at Shanghai Disneyland, declining visit frequency of Chinese gamblers to Macau (with 30 percent of survey respondents saying they would visit Macau less after the opening of Shanghai Disneyland), and shared competition for Guangdong visitors.

Conversely, last month the Macau Travel Industry Council said the opening of Shanghai Disneyland will have a minimum impact on Macau’s tourism market.

Andy Wu Keng Kuong, president of Macau Travel Industry Council, said the new theme park will not necessarily mean fewer tourist arrivals in Macau. “I don’t think after the Mainland Chinese have visited the new Shanghai Disneyland, they will stop coming to Macau,” said Wu. “Macau has its unique charm. Also people tend to visit theme parks over the weekends but they [Chinese tourists] will still use short-term holidays to visit the SARs.”

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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