• 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 Sept GGR fall to be smallest y-o-y since Jan: analysts

Sep 15, 2015 Newsdesk Latest News, Macau, Top of the deck  


Macau Sept GGR fall to be smallest y-o-y since Jan: analysts

Macau’s casino sector is likely to post in September its smallest monthly gross gaming revenue (GGR) decline as measured in year-on-year terms since January. But, according to several analysts, GGR is still poised to retreat by at least 27 percent from the prior-year period.

“Our industry channel checks indicate that Macau GGR for the month through September 13 was MOP8.35 billion [US$1.05 billion],” said brokerage Sanford C. Bernstein Ltd in a note issued from Hong Kong on Monday.

“Assuming average daily revenue of MOP600 million for the remainder of this month, we estimate September GGR to be MOP18.6 billion, representing a year-on-year decline of 27 percent,” said the brokerage’s analysts Vitaly Umansky, Simon Zhang and Bo Wen.

Macau posted a year-on-year casino GGR decline of 17.4 percent in January. Since then, monthly GGR had dropped by percentages ranging from 34.5 percent (July) to 48.6 percent (February) measured in year-on-year terms.

The projected improved year-on-year GGR performance in September is not a result of a sharp rebound in revenue but of easier year-on-year comparisons. Macau’s casino industry has been posting monthly year-on-year declines since June 2014. But it was in September 2014 that the first double-digit decrease – of 11.7 percent – was recorded.

If Sanford Bernstein’s GGR estimate for September proves correct, that would be the third consecutive month that Macau’s casino industry produced gross revenue of precisely MOP18.6 billion.

Sterne Agee CRT analyst David Bain stated in a Monday note – also based on unofficial industry returns for the first 13 days of September – that Macau is likely to post in September a year-on-year GGR decline of between 29 percent and 35 percent.

Wells Fargo Securities LLC is now expecting GGR for September to retreat by between 29 percent and 33 percent in year-on-year terms, versus a prior estimate of a decrease of 30 percent to 36 percent. But analyst Cameron McKnight cautioned in a Monday communication to investors: “We note that weekly numbers have been noticeably volatile since early June and expect this pattern to continue given inherent instability in the VIP segment.”

“We continue to expect September’s total GGR to see a decline of 28 percent to 31 percent year-on-year,” Daiwa Securities Group Inc stated.

“A number of junket closures we have identified have progressively vacated… VIP spaces in the respective properties, which we believe will continue to have a contagion negative impact on the VIP sector as a whole,” analysts Jamie Soo, Adrian Chan and Jennifer Wu wrote on Monday.

Macau’s casino industry has been rocked over the past few days by news that junket operator Dore Entertainment Group Ltd has been a victim of internal fraud by a former employee. The junket operator has not confirmed the amount of money involved in the case, but investment analysts have mentioned figures between HKD200 million and HKD2 billion.

While industry observers say the Dore case’s direct impact on the Macau VIP sector is limited, some have highlighted risks of contagion related to concerns among agents and junket investors about capital liquidity in the junket sector.


  • tweet
Related articles
  • Macau ops track early recovery after Jan GGR: analysts
    Macau ops track early recovery after...

    Feb 01, 2023  

  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPM
    Macau CNY mass GGR maybe 60pct plus of...

    Jan 31, 2023  

More news
  • Macau early Feb average daily GGR higher than Jan: JPM
    Macau early Feb average daily GGR...

    Feb 06, 2023  

  • Macau tour trade returns at historic areas, resorts says govt
    Macau tour trade returns at historic...

    Feb 06, 2023  


Latest News

Macau early Feb average daily GGR higher than Jan: JPM

Macau early Feb average daily GGR higher than Jan: JPM

Feb 06, 2023  

Macau’s casino gross gaming revenue (GGR) for the first five days of February is estimated at MOP1.9 billion (US$235.1 million) – or MOP380 million per day – a level that suggests a “45...
Read More
Macau tour trade returns at historic areas, resorts says govt

Macau tour trade returns at historic areas, resorts says...

Feb 06, 2023  

Cambodia ops to Mar 31 for due tax on non-gaming: report

Cambodia ops to Mar 31 for due tax on non-gaming: report

Feb 06, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The resumption [of mainland package tours] is definitely good news: recovering foot traffic for casinos [in Macau] is really important and their comeback will help with that”

Hoffman Ma Ho Man

Deputy chairman of Success Universe Group, promoter of casino-hotel Ponte 16



Most Popular

  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Cyprus president says Melco CoD Mediterranean to aid nationCyprus president says Melco CoD Mediterranean to aid nation February 6, 2023
  • Macau early Feb average daily GGR higher than Jan: JPMMacau early Feb average daily GGR higher than Jan: JPM February 6, 2023
  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us