Nov..

GGR for Macau profits 8.5 percent, tops expectations

Asia Gaming Brief reports that according to statistics in Macau’s Gaming Inspection and Coordination Bureau (DICJ), for the month of November revenue was MOP25 billion ($3.1 billion) while average daily revenue came in at MOP833 million.

Upwardly revised quote :

The news agency further reports that according to Bernstein, the profit has been more than its own 7 to 8 percent upwardly revised estimate for growth and over twice the consensus estimate for a 4 percent gain. High hold in VIP allegedly helped the figure, with it being estimated at 3.3 percent to 3.4 percent.

Bernstein said, “’d hold been more normal at 3%, y/y growth could have been 4 percent. We estimate VIP GGR was up 10 percentage y/y and Mass was 7 percent.

The firm also estimates that for December, growth will be between 6 and 8%. It noted, however, that last year December was comparatively weak.

Bridge use probably cause of spike:

Asia Gaming Brief continued that based on Union Gambling analyst Grant Govertsen, there doesn’t seem to have been some noticeable rise from the October 24, 2018 opening of the Hong Kong-Macau-Zhuhai Bridge, using the bridge by Mainland visitors to achieve Hong Kong without spending time at Macau, probably attributing to the current spike in visitor numbers.

“it takes many quarters, or even years, such as the bridge to begin to really have a material influence on Macau’s gaming industry and we continue to believe it will almost certainly be in the kind of a stronger MICE market,” said Govertsen.

Mass outpacing VIP:

Mid-single digit gross gaming revenue for 2019, with mass outpacing VIP, is anticipated by the firm, according to the news agency.

The 2018 edition of the ‘Golden Week’ public holiday, in addition to the following opening of the Hong Kong-Zhuhai-Macau Bridge, allegedly helped Macau to capture a 9.2 percent growth year-on-year in October visitor amounts to 3.15 million.