Macau GGR estimate increased by Bernstein
The brokerage increased the November gross gaming revenue forecast for Macau to 7-8%.
Macau.- Brokerage Bernstein has issued a new forecast for Macau’s gross gaming revenue (GGR) and said that it will be considerably higher in Macau when compared to its last estimate.
It is expected that Macau GGR will increase between 7% and 8% during November to between €2.6 billion and €2.7 billion, higher than the previous estimate of a 2%-4% increase to between €2.5 billion and €2.6 billion. A high VIP hold rate during this month’s operations is driving the boost in GGR, as the Bernstein team said.
The brokerage said that the expected growth rate has increased despite traffic to Macau casinos suffering during the first days of the month due to the Macau Grand Prix event.
Moreover, a draft budget introduced at the Legislative Assembly in Macau indicates that tax revenue from gaming operations is expected to reach the €10 million mark. The increase represents an estimated 10% increase.
