The year-on-year growth rate in November for Macau’s casino gross gaming revenue (GGR) is likely to be in the range of 18 percent to 20 percent, say several brokerages.
Citing industry checks, analysts Vitaly Umansky, Zhen Gong and Cathy Huang of Sanford C. Bernstein and Co Ltd stated in a Monday note that the Macau average daily rate for GGR stood at MOP752 million (US$93.6 million) between November 1 and 26. They said that had generated an estimated month-to-date tally of approximately MOP19.55 billion.
“Assuming a GGR average daily rate of MOP660 million to MOP680 million for the remaining days of the month (all weekdays), we estimate November GGR to a range of MOP22.2 billion and MOP22.3 billion, an estimated year-on-year increase in November of plus 18 percent to plus 19 percent,” stated the analysts.
The Bernstein team also predicted November’s Macau mass market GGR would grow by “low to mid-teens” of percent year-on-year, while VIP was “likely up mid to high 20s of percent year-on-year”.
Meanwhile, Japanese brokerage Nomura said in a Monday note the firm estimated a “roughly 20 percent” year-on-year GGR growth in Macau in November, aggregating to approximately MOP22.5 billion.
“We believe daily GGR for the rest of the month could be pressured by a lower weekend-to-weekday proportion, which we estimate will negatively impact daily GGR by approximately MOP100 million per day”, the Nomura note said.
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Amount that each Macau casino operator paid for the circa six-month extension of their respective contract