• 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

Brokers see up to 4pct growth in Macau GGR in May

May 28, 2019 Newsdesk Latest News, Macau, Top of the deck  


Brokers see up to 4pct growth in Macau GGR in May

Sanford C. Bernstein Ltd and Nomura’s Instinet LLC have issued forecasts for gross gaming revenue (GGR) in Macau casinos of between 2 percent and 4 percent greater in May than a year ago. The stockbrokers made their forecasts in the light of their estimates of Macau casino GGR for the week ended May 26.

Sanford Bernstein issued a note on Monday saying Macau casino GGR will likely grown in May following a few months of year-on-year declines.

“Heading into late May and June, we expect year-on-year comparison to begin easing,” the note written by Vitaly Umansky, Eunice Lee and Kelsey Zhu said.

“We may see surprise on the upside if VIP rebounds (although not expecting a near-term rebound). One area of potential high-end GGR stabilisation and renewed strength may come from a recovering credit cycle in China, which may support VIP recovery in the second half.”

The brokerage said its channel checks indicate that Macau casino GGR in the week ended May 26 flowed in at an average rate of MOP814 million (US$100.69 million) a day. That means GGR so far in May was MOP22.35 billion, coming in at an average daily rate 5 percent faster than in May last year.

The Sanford Bernstein analysts said volume in the VIP market for gaming was somewhere around 15 percent greater than in April, and that the hold rate was slightly lower. The note suggested GGR in the mass market was somewhere around 5 percent greater than in April.

A note issued by the stockbroking arm of Nomura on Monday also forecasts that Macau casino GGR will turn out to be between 2 percent and 4 percent greater in May than a year ago.

Nomura estimates that GGR flowed into Macau casinos at a rate of about MOP814 million a day that in the week ended May 26 – the same as the Sanford C. Bernstein estimate.

That means GGR so far in May is 4 percent to 5 percent greater than in the equivalent period a year ago.

The note said average daily volume per day in the VIP market was tracking 16 percent to 18 percent higher than in April, and that the VIP market hold percentage was 3.1 percent to 3.2 percent, in contrast to the normalised hold range of 2.7 percent to 3 percent.


  • tweet
Related articles
  • Philippines 1Q casino GGR up 15pct q-o-q to US$627mln
    Philippines 1Q casino GGR up 15pct...

    May 11, 2022  

  • No material exposure to Macau junket debt cases: Wynn CEO
    No material exposure to Macau junket...

    May 11, 2022  

More news
  • Macau GGR tax cut may spur 15pct EBITDA hike: JP Morgan
    Macau GGR tax cut may spur 15pct EBITDA...

    May 16, 2022  

  • Macau mulls GGR tax cut if casinos attract foreign players
    Macau mulls GGR tax cut if casinos...

    May 13, 2022  


Latest News

Macau GGR tax cut may spur 15pct EBITDA hike: JP Morgan

Macau GGR tax cut may spur 15pct EBITDA hike: JP Morgan

May 16, 2022  

A cut of 5 percentage points in the tax levied on Macau gross gaming revenue (GGR “would be equivalent to a 12 to 15 percent boost” to estimated industry earnings before interest, taxation,...
Read More
Macau mulls GGR tax cut if casinos attract foreign players

Macau mulls GGR tax cut if casinos attract foreign players

May 13, 2022  

Macau modifies satellite owner plan, rev share ban stays

Macau modifies satellite owner plan, rev share ban stays

May 13, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Any reduction in [Macau gaming] tax would be positive for future profits and cash flows, all else equal”

DS Kim, Amanda Cheng and Livy Lyu

Analysts at brokerage JP Morgan Securities (Asia Pacific)



Most Popular

  • Macau mulls GGR tax cut if casinos attract foreign playersMacau mulls GGR tax cut if casinos attract foreign players May 13, 2022
  • Macau modifies satellite owner plan, rev share ban staysMacau modifies satellite owner plan, rev share ban stays May 13, 2022
  • China bars 90,000 from travel in cross-border bet actionChina bars 90,000 from travel in cross-border bet action May 13, 2022
  • Macau GGR tax cut may spur 15pct EBITDA hike: JP MorganMacau GGR tax cut may spur 15pct EBITDA hike: JP Morgan May 16, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us