• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

March best non-hol Macau GGR in 24 mths: JP Morgan

Apr 03, 2017 Newsdesk Latest News, Macau, Top of the deck  


March best non-hol Macau GGR in 24 mths: JP Morgan

Macau’s March casino gross gaming revenue (GGR) growth of 18 percent year-on-year represented the highest average daily revenue for the city in two years, in terms of a non-holiday period, said brokerage JP Morgan Securities (Asia Pacific) Ltd.

“Average daily revenue came in at MOP685 million [US$85.6 million] per day, the strongest non-holiday print in two years, and almost comparable to the recent October level (which is typically the strongest month of the year),” wrote the institution’s analysts DS Kim and Sean Zhuang in a Saturday note.

It followed the publication that day by the local regulator – the Gaming Inspection and Coordination Bureau – of the official March numbers.

Casino GGR for the month was MOP21.23 billion, while the tally for the first three months of the year was up 13 percent, at MOP63.48 billion.

Brokerage Sanford C. Bernstein noted that March’s result represented the “eighth consecutive month of growth” in Macau casino GGR judged year-on-year.

Union Gaming Securities Asia Ltd said in a Saturday note it estimated VIP revenue had expanded by at least 22 percent in March, contributing to a market tally that “handily beat” market consensus “for the second consecutive month”.

“While a detailed breakdown of GGR for first quarter 2017 won’t be available for another two weeks, we estimate that VIP GGR likely grew at a rate of 22 percent to 25 percent during March, and mass continues to grow in the low double digits or low teens,” wrote the brokerage’s analyst Grant Govertsen. He was referring to the fact the gaming bureau is due to issue the first-quarter market split between mass and VIP at a later date.

Deutsche Bank Securities Inc said in its Saturday note that it was revising upward its full-year estimate for Macau casino GGR growth by two percentage points – from 10 percent year-on-year to 12 percent – in the light of the March number and the first-quarter result.

Explaining one of the reasons why they didn’t wish to push up their estimates further at this stage, analysts Carlo Santarelli and Danny Valoy stated: “The second quarter has been softer than the first quarter over the last three years from an absolute dollar GGR perspective, [but] we expect the negative delta to narrow in 2017 and are projecting just a 4 percent sequential slowdown [in the second quarter].”


  • tweet
Related articles
  • Macau GGR for March 1 to 19 at US$845mln: JP Morgan
    Macau GGR for March 1 to 19 at...

    Mar 20, 2023  

  • Macau ongoing cost curbs, extra rooms to up profit: JPM
    Macau ongoing cost curbs, extra rooms...

    Mar 14, 2023  

More news
  • Vietnam’s Hoiana says has several partners to bring biz
    Vietnam’s Hoiana says has several...

    Mar 22, 2023  

  • Jennifer Kartono named chief HR officer of Crane NXT
    Jennifer Kartono named chief HR officer...

    Mar 22, 2023  


Latest News

Vietnam’s Hoiana says has several partners to bring biz

Vietnam’s Hoiana says has several partners to bring biz

Mar 22, 2023  

Hoiana Resort & Golf (pictured), a beachside complex with foreigner-only casino in Vietnam’s Quang Nam province, has told GGRAsia it “currently” has “several partners” to help it bring...
Read More
Jennifer Kartono named chief HR officer of Crane NXT

Jennifer Kartono named chief HR officer of Crane NXT

Mar 22, 2023  

Casino op SJM 2024 EBITDA to hit US$510mln: Moody’s

Casino op SJM 2024 EBITDA to hit US$510mln: Moody’s

Mar 22, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are seriously considering the privatisation of all Pagcor-operated casinos”

Alejandro Tengco

Chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor)



Most Popular

  • Universal Ent seeks to end SPAC deal for Okada Manila listingUniversal Ent seeks to end SPAC deal for Okada Manila… March 20, 2023
  • Macau GGR for March 1 to 19 at US$845mln: JP MorganMacau GGR for March 1 to 19 at US$845mln: JP Morgan March 20, 2023
  • Let’s Win hosts grand opening for club at Hoiana in VietnamLet’s Win hosts grand opening for club at Hoiana in… March 20, 2023
  • Macau ops getting overseas visitors via private jets: reportMacau ops getting overseas visitors via private jets: report March 21, 2023
  • US$165mln syndicated loan for Hann Reserve, says promoterUS$165mln syndicated loan for Hann Reserve, says promoter March 20, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us