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”.
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”Many investors cite Golden Week as a catalyst to significant, sustainable visitation increases and a showcase for profitability for many casinos [in Macau]... However… we are concerned recovery estimates may again be pushed back”
Analyst at Roth Capital Partners