• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Bernstein maintains its caution on Macau June GGR

Jun 25, 2019 Newsdesk Latest News, Macau, Top of the deck  


Bernstein maintains its caution on Macau June GGR

Brokerage Sanford C. Bernstein Ltd forecast in a Monday memo that Macau’s June casino gross gaming revenue (GGR) would be between 1 percent and 3 percent higher year-on-year, maintaining a cautious view expressed a week earlier.

In a June 10 note it had thought such June GGR might be between 3 percent and 5 percent higher year-on-year.

The institution said it was sticking to its trimmed estimate due in part to a low hold rate for VIP baccarat so far in June.

The brokerage made its latest forecast in the light of channel checks indicating Macau casinos collected about MOP17.2 billion (US$2.14 billion) in GGR in the first 23 days of June.

The casinos raked in GGR at the rate of about MOP747 million a day, on average – roughly the same daily volume as a year ago.

Sanford Bernstein estimated that the volume in the VIP market was about the same so far in June as in May this year, but that the hold rate was below the normalised range.

It estimated that month-on-month performance in mass-market GGR was somewhere between flat and 5 percent up.

The institution predicted that Macau casinos would find it easier to record year-on-year GGR improvement in June and July this year, due to an easing of growth levels seen in the second half last year compared to the first six months of 2018.

Analysts Vitaly Umansky, Eunice Lee and Kelsey Zhuhai said in commentary on Macau’s longer-term outlook: “Improvements in transportation infrastructure, continued growth of the premium consuming class in China and the opening and ramping-up of new casino resorts will support long-term growth in mass.”

The brokerage added: “With strong premium consumer growth in China forecasted over the long run, Macau’s secular growth story remains intact.”


  • tweet
Related articles
  • Unlikely serious Macau bidder beyond 6 ops now: panel
    Unlikely serious Macau bidder beyond 6...

    Sep 08, 2022  

  • Macau Sept, Oct GGR recovery path uncertain: Bernstein
    Macau Sept, Oct GGR recovery path...

    Sep 06, 2022  

More news
  • Main-building work at Naga 3 begins mid-2023: NagaCorp
    Main-building work at Naga 3 begins...

    Mar 24, 2023  

  • Macau diversification into non-gaming to remain slow: Fitch
    Macau diversification into non-gaming...

    Mar 24, 2023  


Latest News

Main-building work at Naga 3 begins mid-2023: NagaCorp

Main-building work at Naga 3 begins mid-2023: NagaCorp

Mar 24, 2023  

Piling work for Naga 3, an addition to the NagaWorld gaming complex in Cambodia’s capital Phnom Penh, was at “96 percent completion”, said the promoter’s 2022 annual report, issued on...
Read More
Macau diversification into non-gaming to remain slow: Fitch

Macau diversification into non-gaming to remain slow: Fitch

Mar 24, 2023  

Osaka to up ‘gambling addiction’ centres before IR opens

Osaka to up ‘gambling addiction’ centres before IR

Mar 24, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


April 8, 2028

Completion deadline for 'Marina Bay Sands 2.0', as authorised by Singapore’s authorities



Most Popular

  • Sands China woos Singaporeans as Air Macau opens routeSands China woos Singaporeans as Air Macau opens route March 23, 2023
  • March 18 Macau arrivals nearly 100k, best since pandemicMarch 18 Macau arrivals nearly 100k, best since pandemic March 23, 2023
  • Contractor named, work starts for Wynn UAE schemeContractor named, work starts for Wynn UAE scheme March 23, 2023
  • LVS gets 1-year extension for Marina Bay Sands 2.0 startLVS gets 1-year extension for Marina Bay Sands 2.0 start March 24, 2023
  • Universal Ent affiliate to develop land next to Okada ManilaUniversal Ent affiliate to develop land next to Okada Manila March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us