Brokerages estimate July GGR in Macau

The first two weeks of July reported a rate of €90.7 million a day and brokerages have estimated the total GGR for the month in Macau.

Macau.- Sanford C. Bernstein Ltd issued a new note after the first two weeks of July, in which the brokerage details that gross gaming revenue (GGR) in Macau casinos totalled approximately €1.2 billion.

According to Bernstein’s note, about €90.7 million were registered every day on average. It said that the rate was 3% higher than the one in June, but almost the same as July 2018. It also added that the VIP and mass markets are estimated to be down: “VIP volume is estimated to be down mid-single digits month-on-month, with [the] hold rate towards the lower end of the normalised range. Mass GGR is likely to be up mid-single digits per cent month-on-month.”

Based on the estimate for the first two weeks, Sanford C. Bernstein said forecasts that GGR in Macau in July will be between 8% and 11% higher than June. Year-on-year the numbers are between 2% and 4%.

Nomura’s estimations

The first two weeks of the current month also brought estimations from other analysts. Nomura reported its estimations based on €90.7 million a day. It said that the sate of inflow was 3% slower than the first two weeks of July 2018. “Average daily mass revenues are up about 5% to 6% sequentially versus the average in June.”

Nomura also said that VIP hold percentage is about 2.8% to 2.9%. VIP volume growth is tracking about 4% to 5% lower compared with last month’s average.

The brokerage said that based on GGR in the first two weeks of the month, the forecast for July’s GGR will be between €2.8 billion and €2.9 billion. This represents a 5% increase from the same period a year ago.