• 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

Macau 2014 GGR to go negative on Dec result: Wells Fargo

Dec 29, 2014 Newsdesk Latest News, Macau, Top of the deck  


Macau 2014 GGR to go negative on Dec result: Wells Fargo

Macau’s casino industry is likely to end 2014 with a year-on-year decline in gross gaming revenue, indicates a note from an investment analyst.

Up to November 30, official numbers from the local regulator, the Gaming Inspection and Coordination Bureau, showed accumulated gross gaming revenue (GGR) for 2014 near standstill, with 0.3 percent year-on-year expansion. It followed heavy declines of 23.2 percent and 19.6 percent in October and November respectively. That was despite a rip roaring 40.3 percent expansion in February GGR and double-digit percentage growth in March and April.

The deterioration that began in June is viewed as politically influenced and related to mainland China’s anti-corruption crackdown, as VIP players stay away.

Unofficial industry returns for the final month of the year – up to December 23 – suggest a monthly decline of 27 percent to 29 percent in GGR, says research from Cameron McKnight of Wells Fargo Securities LLC in New York and his colleagues Rich Cummings and Tiffany Lee.

If confirmed early in January by the gaming bureau, it would tip the Macau market into overall retreat for 2014.

Nonetheless December’s projected performance is slightly better than the 30 percent year-on-year slip Wells Fargo had envisaged, Mr McKnight said on Friday.

“A sequential improvement was unexpected, as most believed President Xi Jinping’s visit would affect high-end visitation,” he and his team wrote, referring to the Chinese leader’s visit to Macau on December 19 and 20 to mark the 15th anniversary of the territory’s return to Chinese administration from that of Portugal.

“Our checks suggest weekly ADR [average daily rate] improved to MOP750 million-MOP780 million, up 7-11 percent from the prior week’s soft MOP698 million result,” added the Wells Fargo team.

The note stated that the brokerage sees “approximately 10 percent” downside risk to estimates for Macau names’ earnings before interest, taxation, depreciation and amortisation (EBITDA) in the first quarter of 2015, “assuming -20 percent market growth”.


  • tweet
Related articles
  • Credit Suisse unsure on China anti-graft role in Macau
    Credit Suisse unsure on China...

    Aug 29, 2018  

  • Crane Co plans US$800-mln buyout of Crane Currency
    Crane Co plans US$800-mln buyout of...

    Dec 06, 2017  

More news
  • Foreign tourists can get S.Korean peninsula visa from June 1
    Foreign tourists can get S.Korean...

    May 20, 2022  

  • Crown Resorts’ shareholders nod Blackstone bid
    Crown Resorts’ shareholders nod...

    May 20, 2022  


Latest News

Foreign tourists can get S.Korean peninsula visa from June 1

Foreign tourists can get S.Korean peninsula visa from June 1

May 20, 2022  

South Korea on Thursday said it would from June 1 resume issuing short-term tourism visas for trips to the country’s mainland, for individual visitors and groups of tourists. Permits for...
Read More
Crown Resorts’ shareholders nod Blackstone bid

Crown Resorts’ shareholders nod Blackstone bid

May 20, 2022  

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

May 20, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”[Revenue at Okada Manila] will be around 80 percent of the pre-pandemic level in 2022 before recovering almost fully in 2023"

Satoru Aoyama, Akash Gupta and Kalai Pillay

Analysts at credit rating agency Fitch



Most Popular

  • Melco to launch family attraction at Studio City in JuneMelco to launch family attraction at Studio City in June May 19, 2022
  • Andrew Lo takes controlling stake in Suncity, Summit AscentAndrew Lo takes controlling stake in Suncity, Summit Ascent May 19, 2022
  • Foreign tourists can get S.Korean peninsula visa from June 1Foreign tourists can get S.Korean peninsula visa from June 1 May 20, 2022
  • Fitch flags Universal Ent founder spat, upgrade on Manila IRFitch flags Universal Ent founder spat, upgrade on Manila IR May 20, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us