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

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

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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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