{"id":406,"date":"2019-10-23T10:20:54","date_gmt":"2019-10-23T10:20:54","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=406"},"modified":"2026-04-24T10:17:25","modified_gmt":"2026-04-24T13:17:25","slug":"jp-morgan-macau-ggr-likely-to-go-down-8-per-cent","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jp-morgan-macau-ggr-likely-to-go-down-8-per-cent","title":{"rendered":"JP Morgan: Macau GGR likely to go down 8 per cent"},"content":{"rendered":"\n

JP Morgan revealed that casino gross gaming revenue (GGR) in Macau is likely to decrease 8% in the fourth quarter. <\/p>\n\n\n\n\n\n\n\n

Macau.- Macau GGR is likely to shrink by 8% year-on-year in the fourth quarter; driven by an anticipated 26% decline in VIP, mitigated by a 6% to 7% expansion of mass-play revenue, said a Tuesday report from brokerage JP Morgan Securities (Asia-Pacific) Ltd<\/strong><\/em>.<\/p>\n\n\n\n

In the third quarter this year, VIP baccarat revenue as a proportion of all casino GGR stood at 43.9%, according to market-structure data by the Macau government. In the second quarter, it had been 47.2%. Macau VIP baccarat GGR fell by 22.5% in the third quarter<\/strong><\/em><\/a> according to the data released last week.<\/p>\n\n\n\n

JP Morgan said in its latest take on Macau \u2013 a lookahead on third-quarter earnings and an overview of the fourth quarter and beyond \u2013 that there had been \u201csigns of VIP stabilisation\u201d<\/em> since September this year.<\/p>\n\n\n\n

The \u201cconfidence\u201d<\/em> of VIP agents and VIP players \u201cseems to be improving when looking at key metrics at major junkets\u201d<\/em>. Nonetheless, JP Morgan expected \u201cGGR momentum to get worse before getting better\u201d <\/em>in Macau.<\/p>\n\n\n\n

Last week, Sanford C. Bernstein Ltd, said casino gross gaming revenue (GGR) for October would likely drop<\/strong><\/em><\/a> between 3% and 6% judged year-on-year.<\/p>\n\n\n\n

A number of commentators has\nspeculated that President Xi Jinping will visit Macau in December to mark the\n20th anniversary of Macau\u2019s handover from Portuguese administration to Chinese,\nalthough no announcement has been made on the topic. <\/p>\n\n\n\n

Observers have noted that any visits by China\u2019s government officials tend to depress casino play and decrease the number of visitors from mainland.<\/p>\n","protected":false},"excerpt":{"rendered":"

JP Morgan revealed that casino gross gaming revenue (GGR) in Macau is likely to decrease 8% in the fourth quarter.<\/p>\n","protected":false},"author":133,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"JP Morgan projects an 8% year-on-year decline in Macau's Q4 Gross Gaming Revenue (GGR), primarily driven by an anticipated 26% contraction in the VIP segment, partially offset by a 6-7% expansion in mass-play revenue. This outlook follows a significant 22.5% fall in Q3 VIP baccarat GGR and precedes a potential visit by President Xi Jinping, which historically depresses casino activity. Despite signs of VIP stabilization since September, the overall GGR momentum is expected to worsen before improving.","focusai_entities":"JP Morgan Securities (Asia-Pacific) Ltd, Sanford C. Bernstein Ltd, President Xi Jinping, Macau government","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), marketing_crm (0.8), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q4 GGR Impact","query":"What specific operational adjustments are Macau concessionaires implementing to mitigate the projected 26% VIP GGR decline while capitalizing on mass-market growth, and what are the anticipated NGR implications?"},{"label":"Regulatory Risk Assessment","query":"How might a potential visit by President Xi Jinping in December influence the regulatory landscape or operational parameters for Macau's gaming operators beyond immediate GGR impacts, particularly concerning licensing and governance frameworks?"}],"footnotes":""},"categories":[160,28,16338,163],"tags":[29,229,725,257],"class_list":["post-406","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-casino-news","category-east-asia-news","category-finance-news","tag-casino","tag-gambling","tag-ggr","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/133"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=406"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/406\/revisions"}],"predecessor-version":[{"id":777017845,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/406\/revisions\/777017845"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}