Casino gross gaming revenue (GGR) in Macau fell by 8.6 percent year-on-year in August, to about MOP24.26 billion (US$3.00 billion), according to data from the city’s Gaming Inspection and Coordination Bureau, released on Sunday.
Last month’s tally was the fifth time this year that the city’s casino industry reported a monthly decline in year-on-year terms.
Several investment analysts had forecast August GGR performance as a whole to be down by as much as 5 percent judged year-on-year.
Analysts had said in previous notes that Typhoon Lekima at the start of August was likely to have had some negative effect on Macau GGR. It affected some coastal cities in mainland China and caused the Typhoon Signal No. 8 to be raised in Macau on the afternoon of July 31, until the early hours of August 1, leading to the cancellation of public transport in and to the city.
Based upon Sunday’s release of official data, the Macau market’s GGR tally for the first eight months of 2019 stood at MOP198.22 billion, down 1.9 percent from the prior-year period.
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"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