GGRAsia – Macau gaming revenue down 38.8 pct in April: govt

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Macau gaming revenue down 38.8 pct in April: govt

May 04, 2015 Newsdesk Latest News, Macau, Top of the deck

Macau gaming revenue down 38.8 pct in April: govt

Gross gaming revenue (GGR) in Macau fell 38.8 percent year-on-year in April to approximately MOP19.17 billion (US$2.40 billion) from approximately MOP31.32 billion in April 2014.

It extends to 11 months the year-on-year decline in the city’s monthly GGR tally.

The figures were given on Monday by the city’s casino regulator, the Gaming Inspection and Coordination Bureau.

The latest result means accumulated GGR for the first four months of 2015 stands 37.1 percent lower than in the same period in 2014, at approximately MOP83.94 billion, compared to an aggregate of MOP133.52 billion in the year-prior period.

A note on Friday from analysts Cameron McKnight, Rich Cummings and Tiffany Lee, of Wells Fargo Securities LLC, said the institution expected Macau’s May GGR to decline by 34 percent year-on-year.

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