• 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

Grand Prix to put brake on Macau Nov gambling: analyst

Nov 08, 2016 Newsdesk Latest News, Macau, Top of the deck  


Grand Prix to put brake on Macau Nov gambling: analyst

The four-day Macau Grand Prix road race festival (pictured in a file photo) due to be held in the third week of November is likely to have some dampening effect on demand for gambling, said a memo on Monday from brokerage Sanford C. Bernstein Ltd.

“November 17 to 20 will see the Macau Grand Prix which often dampens revenues during those days,” wrote analysts Vitaly Umansky, Zhen Gong and Yang Xie in a Monday note, referring to the street closures, traffic rerouting, noise and extra hotel bookings generated by the street circuit event. A major sponsor for the meeting is Macau casino junket investor Suncity Group.

Regarding the market outlook for November, Sanford Bernstein added that – based on checks of unofficial industry data – Macau’s aggregate casino gross gaming revenue (GGR) for the first six days of November was likely to have been MOP3.5 billion (US$438.2 million), implying an average daily rate of MOP583 million.

“As expected, this is well below last month’s daily rate of MOP704 million, which included the Golden Week holiday, and below September’s average daily rate of MOP613 million,” wrote the Sanford Bernstein team, referring first to October gambling volumes, which are usually boosted by visitors during China’s National Day festivities.

The brokerage further noted that – assuming an average daily rate of MOP570 million to MOP590 million for the remainder of this month – November GGR would be in the range of between MOP17.2 billion and MOP17.7 billion, which would represent year-on-year growth of 5 percent to 7 percent.

David Katz and Brian Davis of Telsey Advisory Group LLC said in a Monday note: “Our sources indicate that the past week’s results incorporate an expected softening following an active October, which included the Golden Week holiday. The November month to date results may also be impacted by unlucky play, though the recently opened properties in Cotai should be expected to accelerate growth in the coming weeks.”

Analyst Cameron McKnight of brokerage Wells Fargo Securities LLC reiterated in a note the same day that November casino GGR typically produced lower volumes than GGR in October.

“Based on checks through November 6 we estimate November Macau gaming revenues +6 percent to +11 percent year-on-year, versus published consensus of around +7 percent,” wrote Mr McKnight.


  • tweet
Related articles
  • Suncity Macau VIP roll 20pct of pre-Covid level: GS
    Suncity Macau VIP roll 20pct of...

    Jan 12, 2021  

  • Macau Jan GGR likely to dip 60pct y-on-y: Bernstein
    Macau Jan GGR likely to dip 60pct...

    Jan 12, 2021  

More news
  • Casino op MGM China to pay most staff discretionary bonus
    Casino op MGM China to pay most staff...

    Jan 18, 2021  

  • Casino op Silver Heritage to issue 53mln new shares
    Casino op Silver Heritage to issue...

    Jan 18, 2021  


Latest News

Casino op MGM China to pay most staff discretionary bonus

Casino op MGM China to pay most staff discretionary bonus

Jan 18, 2021  

Macau casino operator MGM China Holdings Ltd announced on Monday that it was to pay a “discretionary bonus” to “eligible non-management” staff, adding that “over 90 percent” of its...
Read More
Casino op Silver Heritage to issue 53mln new shares

Casino op Silver Heritage to issue 53mln new shares

Jan 18, 2021  

Grand Korea extends Seoul, Busan casino closures to Feb 1

Grand Korea extends Seoul, Busan casino closures to Feb 1

Jan 18, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The most worrying [thing] is whether [mainland] China will again tighten the issuance of travel visas [for visits to Macau]"

Luiz Lam Kai Kuong

Macau junket investor



Most Popular

  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Police find US$11m of missed Landing cash, suspects soughtPolice find US$11m of missed Landing cash, suspects sought January 14, 2021
  • Still Asia focus for LVS post chairman death: BernsteinStill Asia focus for LVS post chairman death: Bernstein January 14, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • Melco Resorts debt/EBITDA ratio to worsen in 2021: Moody’sMelco Resorts debt/EBITDA ratio to worsen in 2021: Moody’s January 14, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us