The growth of casino gross gaming revenue (GGR) in Macau softened last week, two analysts say.
Brokerage firm Sterne Agee said average daily table GGR stood at MOP920 million (US$115.2 million) for the week ended May 18, up by less than one percent from a year earlier, and down by 11 percent from the week before.
The Macau gaming industry was hit last week by a string of reports on junket liquidity and a potential crackdown on unregistered mobile China UnionPay card processors. It is unclear if those reports had a negative impact on GGR.
Sterne Agee analyst David Bain said Macau table-only gaming revenue was MOP19.2 billion through May 18, quoting channel checks. The May GGR run rate stood at around 15 percent year-on-year, including slot machine assumptions.
Mr Bain maintained his May GGR forecast for growth between 12 percent and 17 percent in comparison with a year before. “We see last week’s checked GGR result as steady – business as usual,” he said.
Wells Fargo analyst Cameron McKnight also reported that GGR in May is trending lower.
Mr McKnight revised his growth forecast for full-May. He now sees Macau GGR going up by between 10 percent and 14 percent year-on-year. He previously had forecast growth between 14 percent and 16 percent.
GGR in Macau stood at MOP113.5 billion in the first four months of 2014, an increase of 17.5 percent from a year before, official data show.
GGR for May 2013 was MOP29.6 billion, an increase of 13.5 percent from May 2012.
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”I don’t see this project [Lisboeta Macau] will just go for the existing market clientele. The clientele I’m going for is… family [travellers]. This is a four-star resort and the pricing will be benchmarked against other four-star hotels in Cotai.”
Director of Macau Theme Park and Resort