Macau GGR falls in first 10 days of September
Extreme weather significantly impacted Macau’s casino gross gaming revenue.
Macau.- Analysts at JP Morgan Securities (Asia Pacific) have reported that Macau’s casino gross gaming revenue (GGR) for the first ten days of September was MOP4.30bn (US$530m). That makes a daily run-rate of MOP430m.
This figure represents a decline from the daily run-rates of approximately MOP550m. The primary factors are extreme weather events, including Typhoon Saola in the initial week of September and heavy rainstorms in the following weeks, as well as the usual seasonal decline after the August holiday period.
Analysts at JP Morgan expect GGR for September to contract by 15 per cent to 20 per cent month-on-month to a range of MOP14.0bn to MOP14.5bn. This corresponds to a daily range of MOP465m to MOP480m, compared to the consensus estimate of MOP15.8bn (MOP525m per day) at the beginning of the month.
However, the industry expects a rebound in October Golden Week, historically a strong period for Macau’s tourism and gaming sectors. Maria Helena de Senna Fernandes, the director of the Macao Government Tourism Office (MGTO), expects to see a daily influx of 80,000 to 90,000 visitors during the holidays, from September 29 to October 6 inclusive.
