It was the second lowest total of the year, but better than expected.
Macau.- Macau’s casino gaming revenue fell 8,5% to MOP22.9 billion (about US$2.8 billion) in November. It was the second lowest total of the year, but better than expected. Some analysts had done a much worse analysis with estimates of 15%.
The information was released this Sunday by Macau’s Gaming Inspection and Coordination Bureau (DICJ) that confirmed that Macau’s current woes have largely been laid at the doors of the casinos’ VIP rooms. The VIP revenue is estimated to have fallen by around 25% compared with November 2018 levels with mass falling by between 5% and 7%.
The main reasons of this fall are the impact of the USA-China trade war, Chinese media criticism of top junket operator Suncity, and the protests in Hong Kong. “It wasn’t too bad considering that it was in line with seasonally solid 3Qs (MOP$770 million), despite disruptions from significant social unrest in Hong Kong as well as some visa control in Macau SAR towards the end of the month,” JP Morgan’s DS Kim, Jeremy An and Derek Choi said.
The visa control will extend Macau’s gaming revenue decline in December. Chinese President Xi Jinping is scheduled to visit Macau mid-month for the 20th anniversary of Macau’s handover from Portugal and they imposed temporary restrictions on exit visas for Macau-bound travelers on November 22 that will extend through December 20.