• 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

Macau casino GGR back to growth in May: govt

Jun 01, 2019 Newsdesk Latest News, Macau, Top of the deck  


Macau casino GGR back to growth in May: govt

Casino gross gaming revenue (GGR) in Macau rose by 1.8 percent year-on-year in May, to approximately MOP25.95 billion (US$3.21 billion), according to data released on Saturday by the city’s regulator, the Gaming Inspection and Coordination Bureau.

May’s tally is the second time this year that the Macau casino industry reports monthly growth in terms of GGR. It followed two consecutive months of decline.

The latest result meant the Macau market’s GGR tally for the first five months of 2019 stood at about MOP125.69 billion, a year-on-year contraction of 1.6 percent.

The May GGR tally had been “helped by the extended Labour Day holiday” period celebrated in China that month, and “easy comps,” with the prior-year period, said a Sunday note from analysts DS Kim and Christopher Tang of JP Morgan Securities (Asia Pacific) Ltd.

The duo wrote that the 1.8-percent year-on-year GGR gain was “below the sell-side consensus estimate of +3 percent” adding that JP Morgan’s forecast had been +2-4 percent, though the pair also noted “it shouldn’t really matter at this point as Macau stocks already corrected by approximately 20 percent during May”.

Two other brokerages said prior to Saturday’s numbers that they expected GGR in Macau casinos to increase between 2 percent and 4 percent in May compared with the prior-year period.

Sanford C. Bernstein Ltd and Nomura’s Instinet LLC had stated in their respective notes that 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. Their notes suggested also that GGR in the mass market was somewhere around 5 percent greater than in April.

Investment analysts had also said they expected to see an improvement in casino GGR performance in Macau given the lengthened Labour Day holiday in China, which was expected to bring higher tourist traffic to the city.

The holiday period in China encompassing Labour Day lasted four days this year, i.e., May 1 to May 4, compared to three days in 2018. The volume of visitors to Macau during the first three days of the holiday period increased 37.0 percent year-on-year, said Macau’s tourism promotion body.

(Updated 7.45pm, Sunday June 2)


  • tweet
Related articles
  • Hoiana official opening scheduled for 2H 2021: UBS
    Hoiana official opening scheduled for...

    Jan 25, 2021  

  • Investors see 2H Macau gain, rebound 2022: Bernstein
    Investors see 2H Macau gain, rebound...

    Jan 19, 2021  

More news
  • Cotai expansion to aid Macau EBITDA to 2019 level: CICC
    Cotai expansion to aid Macau EBITDA to...

    Jan 26, 2021  

  • Nüwa CoD Macau reopening delayed beyond Feb 8
    Nüwa CoD Macau reopening delayed...

    Jan 26, 2021  


Latest News

Cotai expansion to aid Macau EBITDA to 2019 level: CICC

Cotai expansion to aid Macau EBITDA to 2019 level: CICC

Jan 26, 2021  

Macau casino-sector earnings before interest, taxation, depreciation and amortisation (EBITDA) could return to 2019 levels “as soon as” the fourth quarter of this year, “partly helped by...
Read More
Nüwa CoD Macau reopening delayed beyond Feb 8

Nüwa CoD Macau reopening delayed beyond Feb 8

Jan 26, 2021  

Crane affirms 1Q dividend, reports 4Q 2020 profit

Crane affirms 1Q dividend, reports 4Q 2020 profit

Jan 26, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The travel impediments [in mainland China] will lead to reduced visitation into Macau for the next few weeks at least, with Chinese New Year visitation being impacted"

Vitaly Umansky, Tianjiao Yu and Kelsey Zhu

Analysts at Sanford C. Bernstein Ltd



Most Popular

  • Sands China sixth Macau op to pledge staff extra paymentSands China sixth Macau op to pledge staff extra payment January 21, 2021
  • Londoner Macao first phase launch Feb 8 says Sands ChinaLondoner Macao first phase launch Feb 8 says Sands China January 21, 2021
  • Macau Covid-19 case no bar to mainland travel tiesMacau Covid-19 case no bar to mainland travel ties January 22, 2021
  • Digital yuan eventually for Macau mass bets mulls BernsteinDigital yuan eventually for Macau mass bets mulls Bernstein January 22, 2021
  • Yokohama announces RFP timeline for casino bidYokohama announces RFP timeline for casino bid January 22, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us