• 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 tracking higher on VIP strength: analysts

Sep 10, 2019 Newsdesk Latest News, Macau, Top of the deck  


Macau Sept GGR tracking higher on VIP strength: analysts

Several stockbrokers are forecasting that gross gaming revenue (GGR) in Macau casinos will be higher in September than a year ago, as the VIP segment showed signs of recovery in the first eight days of the month.

Sanford C. Bernstein Ltd and the stockbroking arm of Nomura issued on Monday notes to investors estimating that daily Macau casino GGR through the first eight days of September was about MOP763 million (US$94.5 million).

Nomura analysts Harry Curtis, Daniel Adam and Brian Dobson said the daily GGR tally between September 1 to 8 was down circa 3 percent sequentially from the average in August but “roughly in line” with the brokerage’s expectation.

“We believe GGR/day benefitted from a higher weekend (Friday and Saturday) to weekday ratio, which helped daily GGR by an estimated [circa] MOP29 million,” said the Nomura team.

The Nomura analysts said on Monday that – measured by segment – they estimated that for the calendar month to September 8, average daily VIP play volume was tracking circa 7 percent to 8 percent higher sequentially; while VIP hold percentage was about 2.8 percent. Mass GGR per day was down between 5 percent to 7 percent versus the average in August, they added.

On Monday, Macau’s Secretary for Economy and Finance expressed some concern about the likely performance of Macau casino GGR in September, also suggesting Macau’s exports of services – including gaming-related services – will have seen a year-on-year contraction for the July to September period.

Sanford Bernstein’s analysts Vitaly Umansky, Eunice Lee and Kelsey Zhu said in their Monday memo that the month-to-date average daily rate of GGR was 4-percent higher from the prior-year period. They wrote additionally: “VIP volume is estimated to have improved by mid-to-high single digits in percentage points (month-on-month growth), with hold rate lower than the normal range, however.”

The Sanford Bernstein team said it was reducing its GGR growth estimates for September “to +4 percent to +7 percent year-on-year”, still a decline of up to 7 percent from the August GGR tally.

“GGR for September 2018 was impacted by Typhoon Mangkhut (and brought all Macau casinos to close temporarily for 33 hours over a weekend), which sets up for an easier year-on-year comparison,” stated the analysts.

The Nomura team said in Monday’s note that it assumed September GGR to decline sequentially “in line with its trailing seven-year average”. “We estimate GGR for the month should settle around MOP22 billion to MOP23 billion,” stated the Nomura analysts.

“The roughly 2 percent to 3 percent GGR growth estimate for September implied by our estimate would mean [over] 1,000 basis points of sequential acceleration versus last month’s decline, given much easier one-year growth comps for the balance of the year,” they added.


  • tweet
Related articles
  • Macau gaming tax revenue US$1.3bln for Jan-Apr period
    Macau gaming tax revenue US$1.3bln for...

    May 19, 2022  

  • Macau repeat visitors denied visa by China says Bernstein
    Macau repeat visitors denied visa by...

    May 16, 2022  

More news
  • Andrew Lo takes controlling stake in Suncity, Summit Ascent
    Andrew Lo takes controlling stake in...

    May 19, 2022  

  • Okada Manila chair Manuel Lazaro dies aged 87
    Okada Manila chair Manuel Lazaro dies...

    May 19, 2022  


Latest News

Andrew Lo takes controlling stake in Suncity, Summit Ascent

Andrew Lo takes controlling stake in Suncity, Summit Ascent

May 19, 2022  

Andrew Lo Kai Bong (pictured), a senior executive at Hong Kong-listed casino investor Suncity Group Holdings Ltd, acquired controlling shares in the firm with effect from May 13, according to...
Read More
Okada Manila chair Manuel Lazaro dies aged 87

Okada Manila chair Manuel Lazaro dies aged 87

May 19, 2022  

Bloomberry plans 3rd Philippine casino, coastal near Manila

Bloomberry plans 3rd Philippine casino, coastal near Manila

May 19, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$403.9 million

Interim normalised profit after tax and amortisation reported by slot machine maker and online gaming content provider Aristocrat Leisure



Most Popular

  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Macau repeat visitors denied visa by China says BernsteinMacau repeat visitors denied visa by China says Bernstein May 16, 2022
  • U.S. says Steve Wynn ‘foreign agent’, lobbied for ChinaU.S. says Steve Wynn ‘foreign agent’, lobbied for China May 18, 2022
  • Alleged bribe offer to ex-Wynn manager probed by HK, MacauAlleged bribe offer to ex-Wynn manager probed by HK, Macau May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us