Macau records improved February aggregated gross Gambling revenues

Last month reportedly saw the over 30 casinos in Macau record a 4.4% increase year-on-year in aggregated gross gaming revenues to $3.13 billion due in large part to some 26.6% rise in the amount of people who’d visited the town to observe Chinese New Year.

Disappointing contrast:

According to a report from GGRAsia citing official figures in the enclave’s Gaming Inspection and Coordination Bureau, the latest result usually means the former Portuguese enclave’s casinos have now accumulated aggregated gross gaming revenues of over $6.22 billion for 2019, which signifies a year-on-year fall of nearly 0.5%.

The result for last month also came following January saw aggregated gross earnings in Macau enroll their first year-on-year decrease since July of 2016 owing to a slightly more than 5 percent comparable decrease for the 31-day span to $3.08 billion.

Problematic comparison:

The local division of international brokerage firm, Sanford C Bernstein Limited and Company, claimed that the first two months of 2019 represented a ‘flat year-on-year’ period concerning aggregated gross gaming revenues and had established ‘a tough year-on-year comparison’ due to the fact that exactly the same stage in 2018 had seen comparable growth of about 20%.

Mass-market equilibrium:

Grant Govertsen, an analyst with Union Gambling Securities Asia Limited, clarified that February’s aggregated gross gaming revenues had only been aided by the mass-market segment, which likely chalked up increase percentage rates in the ‘low double digits.

Govertsen additional …

“The timing of Chinese New Year should have, in theory, benefited this year. According to our on-the-ground observations and given strong foot traffic trends, it appears that mass-market came through for operators and expansion of this segment likely stays in the low double digits. ”