• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

MGM China, Melco gained VIP share in March: Nomura

Mar 26, 2019 Newsdesk Latest News, Macau, Top of the deck  


MGM China, Melco gained VIP share in March: Nomura

Macau casino operators MGM China Holdings Ltd and Melco Resorts and Entertainment Ltd “continue to gain share” in VIP gambling business in the city so far this month, suggests a Monday note from Japanese brokerage Nomura.

“Based on our latest operator checks, we do not believe that all Macau operators have been negatively impacted by low VIP volumes/hold in March. We believe buy-rated MGM [China] and Melco [Resorts] continue to gain share,” wrote analysts Harry Curtis, Daniel Adam and Brian Dobson.

Nonetheless the institution thought that market-wide, a softening of average daily VIP gambling volume so far in March compared to February – down by as much as 17 percent to 19 percent – was likely to contribute to a decline in Macau’s March casino gross gambling revenue (GGR) of between 3 percent and 5 percent year-on-year.

GGR is a different way of measuring industry performance as compared to VIP volume – the latter is also sometimes referred to as rolling chip volume.

“Assuming GGR per day settles at approximately MOP800 million [US$99 million] to MOP850 million for the final week of the month, we estimate March GGR will be down around 3 percent to 5 percent year-on-year,” stated Nomura.

Brokerage Sanford C. Bernstein Ltd said in a Monday memo that its “channel checks” indicated Macau’s average daily GGR for March so far this month was MOP795 million, down 12 percent compared to February’s MOP906-million average, and down 1 percent compared with January’s MOP805-million daily average.

The institution added that so far in March, average daily GGR was down 5 percent year-on-year on the MOP837 million average per day in March 2018, although the firm’s analysts said large-scale events by junkets for their customers this time last year, had held “elevated” VIP GGR in March 2018.

“As a result of weaker than expected trend in March, we are lowering our March estimated GGR growth to -6 percent to -5 percent year-on-year,” wrote analysts Vitaly Umansky, Eunice Lee and Kelsey Zhu.

They also noted that sequentially, compared to February – a period that included the Chinese New Year holiday – the decline was -4 percent to -3 percent.


  • tweet
Related articles
  • Lawrence Ho awarded US$10mln in Melco Resorts shares
    Lawrence Ho awarded US$10mln in Melco...

    Apr 09, 2021  

  • Moody’s expects MGM, Wynn to pursue large IR development 
    Moody’s expects MGM, Wynn to pursue...

    Apr 08, 2021  

More news
  • Macau VIP GGR up 20pct sequentially in 1Q: govt
    Macau VIP GGR up 20pct...

    Apr 16, 2021  

  • NUSTAR complex in Cebu slated to open 2022: UHRI
    NUSTAR complex in Cebu slated to open...

    Apr 16, 2021  


Latest News

Macau VIP GGR up 20pct sequentially in 1Q: govt

Macau VIP GGR up 20pct sequentially in 1Q: govt

Apr 16, 2021  

Macau’s VIP gross gaming revenue (GGR) in the first quarter of 2021 reached nearly MOP9.13 billion (US$1.14 billion), up 19.7 percent sequentially, according to data released on Friday by the...
Read More
NUSTAR complex in Cebu slated to open 2022: UHRI

NUSTAR complex in Cebu slated to open 2022: UHRI

Apr 16, 2021  

Labour Day hols hotels to be 40-50pct full: Macau govt

Labour Day hols hotels to be 40-50pct full: Macau govt

Apr 16, 2021  

Macau may tie GBA backing to gaming tender: law experts

Macau may tie GBA backing to gaming tender: law experts

Apr 16, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$1.15 billion

Tax revenue collected by the Macau government from the city’s gaming industry in the first three months of 2021



Most Popular

  • Three Manila casinos say still shut despite eased lockdownThree Manila casinos say still shut despite eased lockdown April 13, 2021
  • Macau 2021 GGR could be half of pre- Covid-19 levels: FitchMacau 2021 GGR could be half of pre- Covid-19 levels: Fitch April 15, 2021
  • Macau 1Q VIP GGR bad at 20pct pre pandemic: JP MorganMacau 1Q VIP GGR bad at 20pct pre pandemic: JP Morgan April 14, 2021
  • Macau seeks mutual vaccine recognition with Guangdong: CEMacau seeks mutual vaccine recognition with Guangdong: CE April 13, 2021
  • Macau subsidised staycation for locals covers casino resortsMacau subsidised staycation for locals covers casino resorts April 14, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us