GGRAsia – Macau’s GGR may keep dropping in July: Bank of America

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Macau’s GGR may keep dropping in July: Bank of America

Jul 09, 2014 Newsdesk Latest News, Macau, Top of the deck

Macau’s casino gross gaming revenue (GGR) may continue dropping in July, Bank of America Merrill Lynch warns.

Bank of America issued a note earlier this week saying it forecasts July revenue in Macau to come in around MOP26.3 billion (US$3.3 billion) and MOP30.1 billion.

The lower end of the range would mean a drop of 11 percent on year-on-year terms, while the higher end would be equivalent to an increase of 2 percent. Macau’s casinos brought in MOP29.5 billion in July 2013.

Macau’s GGR for June reached MOP27.22 billion, a year-on-year decline of 3.7 percent, the city’s Gaming Inspection and Coordination Bureau said last week. It was the first year-on-year drop in monthly GGR in five years.

Last week, Deutsche Bank analyst Carlo Santarelli said Macau casino revenue is likely to return to modest year-on-year growth of 1.2 percent in July.

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