Macau gross gaming revenues continue recovery from July

After recovering from a marginally disappointing preceding month to article June aggregated gross gaming revenues of roughly $2.78 billion, the over 30 casinos in Macau have now gone better by recording a 10.3% rise year-on-year for July to $3.13 billion.

Result falls short of forecasts:

According to a report from GGRAsia mentioning official statistics from town ’s Gaming Inspection and Coordination Bureau, July’s tally represented a 12.6% improvement when compared with the previous month but fell short of their 11% year-on-year rise that had been predicted by several brokerage companies.

Grant Govertsen out of Hong Kong-centered Union Gaming Securities Asia Limited employed a note before today to announce that previous month’s aggregated gross gaming revenues in Macau had been not able to hit his prediction due to a trio of ‘headwinds. ’ These surrounded July containing one less similar Sunday, the effect of interest from the 2018 FIFA World Cup in Russia along with the 31-day interval seeing ‘the toughest comp of this year.

Seven-month figure enhances:

Nevertheless, GGRAsia reported that Macau’s aggregated gross gaming revenues for the first seven months of 2018 stood at only $21.71 billion, which represented a swell of 17.5% year-on-year.

Favorable August forecasts:

Brokerage firm, Sanford C Bernstein Limited, utilized an update issued earlier today to state that it expects Macau to post between a 15% and 17% rise in aggregated gross gaming revenues for August, despite the month encouraging ‘a less Saturday than last year.

Likewise, Govertsen forecasted this month’s aggregated gross gaming revenues in Macau must be around 14% higher than those listed in August of 2017. He detailed that this is due to last year’s comparable span having suffered through Typhoon Hato, that was the most powerful storm to have hit on the former Portuguese enclave within 53 decades, alongside its succeeding Typhoon Pakhar counterpart.

Govertsen’s announcement reportedly browse …

“The weather comp is very simple because August of last year saw the devastating Typhoon Hato, that was followed one week later by Typhoon Pakhar. These two weather incidents took a big bite out of gross gaming revenues last year. ”