• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Macau casino GGR down 5pct in January: govt

Feb 01, 2019 Newsdesk Latest News, Macau, Top of the deck  


Macau casino GGR down 5pct in January: govt

Casino gross gaming revenue (GGR) in Macau fell by 5.0 percent year-on-year in January to MOP24.94 billion (US$3.09 billion), according to data from the city’s Gaming Inspection and Coordination Bureau released on Friday.

According to Macau government data reviewed by GGRAsia, January marked the first shrinkage in monthly GGR since mid-2016.

Union Gaming Securities Asia Ltd analyst Grant Govertsen said in a note following the regulator’s announcement that January’s GGR result had “handily beat” investment analyst consensus estimates. “We are encouraged by the January results and view the market as being more robust than it gets credit for, especially given the timing of Chinese New Year this year,” Mr Govertsen wrote.

According to investment analysts, it is not unusual for Macau gambling volumes to moderate immediately before Chinese New Year – which in 2019 falls on February 5.

Analyst DS Kim at JP Morgan Securities (Asia Pacific) Ltd said the year-on-year GGR decline for January was “well expected”, reflecting “one of the toughest comps for the year (+36 percent year-on-year in January last year); and earlier-than-usual Chinese New Year holidays (February 4 to 10), which created some lull in demand in late January.”

Mr Kim added: “Considering these, as well as the much-feared smoking ban that kicked in from January 1, 2019, January print should be viewed positively by the market.”

Up to end-2018, VIP rooms were the only places in Macau casinos that had still been allowing smoking at the gaming table. Tableside smoking ended when new rules on smoking in casinos in Macau came into full effect in the new calendar year.

Brokerage Sanford C. Bernstein Ltd agreed that January’s GGR result was “better than expected”. Analysts Vitaly Umansky, Eunice Lee and Kelsey Zhu added: “For February 2019, we are preliminarily estimating +4 percent to +7 percent year-on-year [GGR growth].”

Macau’s accumulated GGR for full-year 2018 grew by 14.0 percent compared to the tally for 2017. It marked the second straight year of GGR growth, following an increase of 19.1 percent in full-year 2017.

Before that, the Macau market had experienced three consecutive years of annual decline. In 2016, GGR fell 3.3 percent; in 2015, it slipped 34.3 percent; and in 2014, GGR declined by 2.6 percent year-on-year.

(Updated on Feb 1, 3.15pm)


  • tweet
Related articles
  • Macau’s licensed junket tally down to 85: govt
    Macau’s licensed junket tally...

    Jan 27, 2021  

  • Mass market play record 65pct Macau GGR in 4Q: govt
    Mass market play record 65pct Macau GGR...

    Jan 15, 2021  

More news
  • Sci Games says ‘Singing Cats’ nodded in 9 APAC markets
    Sci Games says ‘Singing Cats’...

    Jan 27, 2021  

  • LT Game says 1Q Macau launch for its Jackpot Series
    LT Game says 1Q Macau launch for its...

    Jan 27, 2021  


Latest News

Sci Games says ‘Singing Cats’ nodded in 9 APAC markets

Sci Games says ‘Singing Cats’ nodded in 9 APAC markets

Jan 27, 2021  

Gaming supplier Scientific Games Corp has told GGRAsia that its new “Jin Ji Bao Xi – Singing Cats” slot machine game (pictured) is “approved and available” in nine Asia-Pacific...
Read More
LT Game says 1Q Macau launch for its Jackpot Series

LT Game says 1Q Macau launch for its Jackpot Series

Jan 27, 2021  

Macau’s licensed junket tally down to 85: govt

Macau’s licensed junket tally down to 85: govt

Jan 27, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"We will continue supporting our people and the local communities in which we operate, reinvesting in our current markets, producing strong returns for our shareholders and aggressively pursuing new development opportunities"

Patrick Dumont

President and chief operating officer of Las Vegas Sands



Most Popular

  • China said to be expanding blacklist for overseas gamblingChina said to be expanding blacklist for overseas gambling January 27, 2021
  • Digital yuan eventually for Macau mass bets mulls BernsteinDigital yuan eventually for Macau mass bets mulls Bernstein January 22, 2021
  • Okada Manila warns against online casino, sale rumoursOkada Manila warns against online casino, sale rumours January 25, 2021
  • Cotai expansion to aid Macau EBITDA to 2019 level: CICCCotai expansion to aid Macau EBITDA to 2019 level: CICC January 26, 2021
  • Hoiana official opening scheduled for 2H 2021: UBSHoiana official opening scheduled for 2H 2021: UBS January 25, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us