Macau GGR dip due to National Games, Citigroup says
Analysts say daily average gross gaming revenue was US$83.7m.
Macau.- Analysts at Citigroup have estimated that Macau’s gross gaming revenue (GGR) for the first 16 days of November was MOP11.1bn (US$1.4bn). The estimated daily run rate for the second week of the month was MOP671m (US$83.7m), a 6 per cent decline compared with the first nine days of November (MOP711m).
It is estimated that VIP volumes declined by between 6 per cent and 8 per cent, compared with October and mass GGR by between 8 per cent and 10 per cent. VIP hold rates appeared to be unchanged.
Analysts George Choi and Timothy Chau suggest hotel occupation by athletes for the National Games, which Macau is co-hosting with Guangdong and Hong Kong until November 21, may have led to a minor moderation of GGR due to a dip in average players’ length of stay (and play).
Citigroup is maintaining its November GGR forecast at MOP20.5bn (US$2.56bn), up 11 per cent year-on-year. It believes daily GGR will remain at or MOP671m (US$83.9m) for the rest of the month.
The Gaming Inspection and Coordination Bureau (DICJ) reported that Macau’s gross gaming revenue (GGR) was MOP24.09bn (US$3bn) in October. That’s an increase of 15.9 per cent in year-on-year terms and up 31.7 per cent compared to September’s GGR of MOP18.3bn (US$2.27bn).
