Macau GGR down in second week of November, Citigroup says

Analysts say daily average gross gaming revenue was US$83.7m.

Macau.- Analysts at Citigroup have estimated that Macau’s gross gaming revenue (GGR) for the first 16 days of November was MOP11.1bn (US$1.4bn). The estimated daily run rate was MOP671m (US$83.7m), a 6 per cent decline compared with the first nine days of November (MOP711m).

It is estimated that VIP volumes have declined by between 6 per cent and 8 per cent, compared with October and mass GGR by between 8 per cent and 10 per cent, however VIP hold rates appear to be unchanged. 

Analysts cited Hotel occupation for the National Games, which Macau is co-hosting with Guangdong and Hong Kong until November 21.

George Choi and Timothy Chau wrote: “We suspect the minor moderation in GGR is attributable to some hotel rooms being occupied by the athletes participating in the National Games, leading to a temporary small decline in average players’ length of stay (and play).” 

Citigroup is maintaining its November GGR forecast at MOP20.5bn (US$2.56bn), up 11 per cent year-on-year. It believes daily GGR will remain at or MOP671m (US$83.9m) for the rest of the month.

The Gaming Inspection and Coordination Bureau (DICJ) reported that Macau’s gross gaming revenue (GGR) was MOP24.09bn (US$3bn) in October. That’s an increase of 15.9 per cent in year-on-year terms and up 31.7 per cent compared to September’s GGR of MOP18.3bn (US$2.27bn). 

See also:

See also: Jefferies lifts growth forecast for Macau’s casino sector

Analysts say daily average gross gaming revenue was US$83.7m. Macau.- Analysts at Citigroup have estimated that Macau’s gross gaming revenue (GGR) for the first 16 days of November was MOP11.1bn…