Macau GGR to break records
According to Bloomberg, gross gambling revenue is set to rise 14 percent in 2018 and is likely to break records in 2019.
Macau.- Gambling in Macau keeps growing and is not expected to stop in the near future. On the contrary, according to Bloomberg, gross gambling revenue is expected to achieve record breaking figures in 2019 after jumping by 14 percent during next year.
The financial services firm quoted a survey of 10 analysts and projected that GGR will break the 2013 US$45 billion mark that was set before government’s measures affected revenue. The increase is expected to be driven by VIP gamers, in addition to the new Cotai casinos, which will have a major impact in tourism, making it rise 7 percent during 2018.
Bloomberg’s projections add up to Bernstein Research’s own, which assured that Macau GGR in December will gain between 17 and 19 percent, also led by VIP revenue which jumped 35 percent in the third quarter and rose during the whole year.
“Assuming a reduced GGR average daily rate of US$88.5 to US$92.2 million for the remaining days of the month, we estimate December GGR to a range of US$2.85 billion and US$2.9 billion, an estimated year-on-year increase in December of 17 percent to 19 percent,” analysts Vitaly Umansky, Zhen Gong and Cathy Huang.
