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”.
May 22, 2019Macau’s casino regulator, the Gaming Inspection and Coordination Bureau, has confirmed in an email to GGRAsia that it is investigating what it termed suspected promotion of “illegal online...
May 22, 2019
"Competition is tough in Macau and is also changing. It [the local market] is susceptible to a lot of macro factors”
Daisy Ho Chiu Fung
Chairman of casino operator SJM Holdings Ltd