• 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 GGR slowdown maybe greater in April than March

Apr 09, 2019 Newsdesk Latest News, Macau, Top of the deck  


Macau GGR slowdown maybe greater in April than March

The rate of year-on-year slowdown in Macau casino gross gaming revenue (GGR) is likely to be higher in April than it was in March, say several brokerages. The main question they pose – citing daily GGR trends so far this month based on industry unofficial returns – is by how much.

“We estimate GGR for the month should settle at around MOP24 billion [US$2.97 billion] to MOP25 billion,” stated analysts Harry Curtis, Daniel Adam and Brian Dobson of Japanese brokerage Nomura in a Monday update based on Macau market performance in the month so far.

“Although the approximately 5.5-percent year-over-year decline at the midpoint of our estimated range implies approximately 500 basis points of deceleration versus March’s 0.4 percent year-over-year decline, we expect positive growth to resume once we lap the tough +28-percent comparison in April,” added Nomura, referring to what might happen further into the year.

The 0.4 percent year-on-year retreat in March GGR had been a better result than most sell-side analysts had been expecting.

Brokerage Sanford C. Bernstein Ltd said in its Monday note it expected Macau April GGR to be down 4 percent to 2 percent year-on-year, i.e., down 3 percent to 1 percent month-on-month.

“We expect year-on-year comparison to be difficult through [the] end of April, as GGR was very robust in early 2018, until U.S.-China trade tensions heightened,” reiterated Sanford Bernstein.

The brokerage’s analysts – Vitaly Umansky, Eunice Lee and Kelsey Zhu – said channel checks indicated that Macau GGR in the first seven days of April was about MOP5.2 billion, meaning revenue came in at the rate of about MOP742 million a day, or 13 percent down on the corresponding period last year.

The memo added: “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.”

Improving consumer credit conditions in mainland China had been cited by Nomura in a note last month as a possible cause for optimism in the second half of 2019.

Nomura nonetheless stated in its latest note on Macau, referring to the market’s rolling chip performance so far in April: “VIP volume growth is tracking approximately 8 percent lower sequentially versus last month’s average.”


  • tweet
Related articles
  • Macau daily visit volume down 17pct m-o-m for April 2 to 6
    Macau daily visit volume down 17pct...

    Apr 08, 2021  

  • Macau Apr 1-6 GGR flat w-o-w, despite visits up: Bernstein
    Macau Apr 1-6 GGR flat w-o-w, despite...

    Apr 07, 2021  

More news
  • Macau govt, analysts tip May Day bounty at casino resorts
    Macau govt, analysts tip May Day bounty...

    Apr 20, 2021  

  • Paradise Ent says deployment of own slots hit by pandemic
    Paradise Ent says deployment of own...

    Apr 20, 2021  


Latest News

Macau govt, analysts tip May Day bounty at casino resorts

Macau govt, analysts tip May Day bounty at casino resorts

Apr 20, 2021  

The average nightly occupancy rate for Macau hotels – including properties in casino resorts – could reach “70 percent to 80 percent” during the upcoming Labour Day break in May,...
Read More
Paradise Ent says deployment of own slots hit by pandemic

Paradise Ent says deployment of own slots hit by pandemic

Apr 20, 2021  

Belle Corp 2020 gaming revenue from CoD Manila dips 79pct

Belle Corp 2020 gaming revenue from CoD Manila dips 79pct

Apr 20, 2021  

Japan casino draft rules strict, but evolving: experts

Japan casino draft rules strict, but evolving: experts

Apr 20, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$4.3 billion

Budget for Genting Bhd's Resorts World Las Vegas, to open June 24



Most Popular

  • Macau 2021 GGR could be half of pre- Covid-19 levels: FitchMacau 2021 GGR could be half of pre- Covid-19 levels: Fitch April 15, 2021
  • NUSTAR complex in Cebu slated to open 2022: UHRINUSTAR complex in Cebu slated to open 2022: UHRI April 16, 2021
  • Macau may tie GBA backing to gaming tender: law expertsMacau may tie GBA backing to gaming tender: law experts April 16, 2021
  • Macau VIP GGR up 20pct sequentially in 1Q: govtMacau VIP GGR up 20pct sequentially in 1Q: govt April 16, 2021
  • Talks on NagaWorld lay-offs amid pandemic: sourceTalks on NagaWorld lay-offs amid pandemic: source April 19, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us