Macau GGR to grow 8pct in September

According to Sanford C. Bernstein, GGR is expected to increase by 8-11% year-on-year during September.

Macau.- The gaming industry continues to drive the Macanese economy forward and, according to asset manager Sanford C. Bernstein, its finances will continue to evolve in September. According to a recent report, the territory’s gross gaming revenue (GGR) is expected to grow between 8-11% (€2.47-2.53 billion).

“We continue to voice caution about the strength (and volatility) surrounding VIP,” said the Sanford Bernstein team, integrated by Vitaly Umansky, Zhen Gong and Kelsey Zhu. “Significantly shifting hold rates in VIP creates volatility and lack of ability to more accurately forecast the monthly trend.”

Japanese brokerage Nomura also predicted GGR to grow but was even more optimistic as it foresees a 15% increase year-on-year. The estimate “calls for a 200 basis points deceleration versus August GGR growth of +17.1%,” analysts Harry Curtis, Daniel Adam and Brian Dobson wrote. “Given sentiment as poor as it is now, we expect mid-teens percentage GGR growth for the month of September would be viewed a positive catalyst for the group,” they added.