Macau’s casinos are continuing to post weak VIP gross gaming revenue (GGR) results, says Nomura.
The Japanese brokerage firm estimated on Monday VIP revenue could be down between 11 percent and 13 percent on year-on-year terms for full-June.
The good news is that Nomura’s checks indicate mass headcount “remains strong”. Analysts Louise Cheung and Harry C. Curtis said mass-market GGR could be up between 34 percent and 38 percent from a year before for the full month.
June GGR could stand between MOP28.5 billion (US$3.6 billion) and MOP29.5 billion, increasing by 1 percent to 4 percent on year-on-year terms, the two analysts estimated.
U.S.-based brokerage firm Sterne Agee said also on Monday its June GGR outlook for Macau’s casinos remains between a drop of 2 percent and growth of 3 percent from one year before, “with a bias toward the low-end of our range”.
Oct 15, 2021A Macau court was told on Friday that a US$12-billion claim against United States-based casino group Las Vegas Sands Corp (LVS) and some of its units, over alleged help securing its Macau gaming...
Oct 15, 2021
Oct 15, 2021
"The Macau recovery continues to be disrupted by false starts, while the lack of [Chinese] public holidays for rest of the year should cap the pace of the rebound”
Andrew Lee and David Katz
Analysts at brokerage Jefferies LLC