Macau GGR, highest since 2014
Gross gaming revenue in Macau grew 36.4 per cent in January to €2.58 billion, its highest year-on-year improvement since 2014.
Macau.- 2018 kicked off with great results in Macau as the region’s gross gaming revenue went up 36.4 per cent in January to €2.58 billion. The increase is the highest year-on-year improvement since 2014, just before the regulatory crackdown in the gambling hub.
Brokerage Sanford C. Bernstein Ltd said: “Macau January GGR was much stronger than original expectation and well above consensus (27 per cent year-on-year). Average daily revenue for the month was €83.5 million (16 per cent above December ADR of €72.1 million) and only 1 per cent below October (the busiest month of the year).”
JP Morgan analysts further stated: “Based on our checks, we estimate VIP GGR was up 50 per cent year-on-year and mass GGR was up 22 per cent to 24 per cent year-on-year , both of which showed big accelerations from recent trends and beat recent expectations, partly helped by easy comps (given Chinese New Year calendar shift) and VIP luck.”
Furthermore, Fitch Ratings director Colin Mansfield forecasted an 11 percent GGR growth for the year. “[January’s growth] is a deceleration from 19 percent that we saw last year,” he said at a media briefing session on Thursday.
