October GGR to grow in Macau

Brokerage Bernstein agrees that gaming gross revenue will grow between 13 and 15 percent in October.

Macau.- Bernstein revealed that gaming gross revenue (GGR) is expected to report an increase of 13 to 15 percent year-on-year in October, especially driven by a continued growth in VIP activity. Japanese brokerage Nomura said last week that GGR is expected to increase almost the same percentage even if the Golden Week showed a slower start this year.

The brokerage said that gross gaming revenue month to date between October 1-23 reached US$2.2 billion, with US$103 million of average daily rate. “According to our channel checks, VIP win rate was above normal for the month, VIP was up mid 20’s percent year-on-year while Mass was up by in the range of mid-single digits percent year-on-year.”

If the numbers continue to be similar during the last week of the month and GGR ends up increasing between 13 and 15 percent, the final number will be between US$2.9 billion and US$3 billion.

Nomura said that trends seem to have normalised despite the slower than expected start this year. The Golden Week holiday period took place from October 1-8, and despite the slow start, visitors arrival’s aggregate number showed a 10.3 percent rise year-on-year.